The Ministry of Natural Resources and the China Geological Survey announced on the 8th that China has achieved a series of significant breakthroughs in Lithium mining exploration. The proportion of Lithium reserves globally has increased from 6% to 16.5%, ranking from sixth in the world to second. This is expected to reshape the Global Lithium resource landscape. So, what impact will this significant new reserve have on the domestic and even international Lithium battery market? How will it affect the prices of domestic Lithium products? "Reserves and exploitable quantities are two different Concepts. Generally speaking, the overall construction cycle of a Lithium mining factory is 2 to 3 years, and in high-altitude areas, it may take 3 to 5 years," said Duan Zhiqiang, president of the Wan Venture Capital Research Institute. He stated that the overall exploration of mineral resources is divided into four stages: preliminary survey, general survey, detailed survey, and exploration. The newly added mineral resources are usually at the preliminary or general survey stage, and only through the exploration stage can the economically exploitable quantity be determined, with the overall conversion continuing for some time.