According to the Wisdom Financial APP, ganfenglithium (01772) is now down more than 4%. As of press time, it has fallen 4.38% to HKD 15.3, with a turnover of HKD 112 million.

On the news front, on June 25th, ganfenglithium disclosed that its subsidiary Shanghai Ganfeng, Bacanora, and Sonora have initiated arbitration proceedings with the International Center for Settlement of Investment Disputes (ICSID) regarding the cancellation of Mexican mining rights in May 2024. They are seeking compensation from Mexico for the damages and interest suffered as a result of its breach of the agreement, as well as all relevant arbitration costs and expenses.

It is reported that in April 2022 and May 2023, the Mexican government undertook mining law reforms, including designating lithium as a strategic mineral, prohibiting the granting of lithium mining franchise rights to private enterprises, and reviewing previously granted lithium mining franchise rights. In August 2023, ganfenglithium announced that it had received a notice from the Mexican Mining Bureau, and despite submitting a large amount of evidence proving that it had fulfilled the minimum investment obligations of the lithium mining franchise rights, it still had 9 lithium mining franchise rights cancelled. Since then, ganfenglithium has applied for administrative reconsideration and administrative litigation, but progress has been minimal.