Mine / resource · China

Qarhan Salt Lake

ProducingNot yet verifiedAs of 25 Oct 2026
Owner
Qinghai Salt Lake Industry
Listed via
000792.SZ
Product
Brine
Deposit type
Brine
Capacity
~40 kt LCE
≈ 40 kt LCE/yr (nameplate)
Location
36.80°, 95.00°

Potash by-product brine.

Ownership structure

Effective economic interest of listed owners · As of 25 Oct 2026
Qinghai Salt Lake000792.SZ100%Qarhan Salt LakeMine / resource

Attributable capacity

Listed ownerStakekt LCE/yr
Qinghai Salt Lake 000792.SZ100%≈40

Structure: Qinghai Salt Lake Industry.

Value chain

Owners, buyers and the refineries on Li3atlas they feed · As of 25 Oct 2026
Mine / resourceQarhan Salt Lake~40 kt LCE

Quarterly production

As of 30 Jun 2025
0510152025UnverifiedUnverifiedUnverifiedUnverifiedUnverifiedH1 2025: 20 kt Li2CO320Q2 25Q3 25Q4 25Q1 26Q2 26Q3 26

kt Li2CO3, as reported · Source: Q1 2024, H1 2024, Q1 2025, H1 2025

21Production (kt Li2CO3): 8.7Sales (kt Li2CO3): 9.9Q1 24Production (kt Li2CO3): 18.9Sales (kt Li2CO3): 20.2H1 2024Production (kt Li2CO3): 8.5Sales (kt Li2CO3): 8.1Q1 25Production (kt Li2CO3): 20Sales (kt Li2CO3): 20.6H1 2025
Production (kt Li2CO3)Sales (kt Li2CO3)
H1 2025Q1 25H1 2024Q1 24
Production (kt Li2CO3)208.518.98.7
Sales (kt Li2CO3)20.68.120.29.9
Implied inventory change (prod − sales)−0.6+0.4−1.3−1.2

Production minus sales in the same unit: positive = stockpile built at the mine or port, negative = drawn down.

Unit cost

As of 25 Oct 2026
Basis
Cost of sales 1397.0 CNY m ÷ sales 45.564 kt Li2CO3 (锂产品 / lithium products (碳酸锂), FY2025). Rules 1–3 hold for FY2025: (1) segment volume is own-resource 碳酸锂 from the Qarhan/Lanke brine–adsorption chain at 察尔汗; design table lists 4万t/y 碳酸锂 at 察尔汗工业园区 and 五矿盐湖/一里坪 equity close was 2025-12-31
Period
FY2025

Cost bridge to US$/t LCE

Implied · no reported cost No unit cost is published for this operation. Li3atlas computes one from the filing: segment cost of sales ÷ sales volume. That is a fully loaded accounting cost (includes depreciation, royalties and any bought-in feed), so it is not like-for-like with reported cash costs. Filing used for the inputs

implied
CNY 30,659/t Li2CO3
In US$ (fixed FX)
× 0.14 = $4,292/t Li2CO3
Landed cost
$4,292/t LCE
Cost-curve quartile Q1 of 14 operations with a cost

Integrated chemical producer: the reported cost already covers conversion. The conversion, freight and royalty settings are shared with the cost curve on the map page (Economics).

Position on the cost curve

Landed US$/t LCE, same assumptions as the cost curve · As of 25 Oct 2026
Hombre Muerto West (HMW): $3,963/t LCEQarhan Salt Lake: $4,292/t LCE (implied)Cauchari-Olaroz: $5,897/t LCEYichun lepidolite belt: $6,012/t LCE (implied)Greenbushes: $6,201/t LCEPilgangoora: $7,330/t LCEMibra: $7,416/t LCEWodgina: $7,489/t LCEFinniss: $7,913/t LCEZabuye Salt Lake: $8,265/t LCE (implied)Mt Marion: $9,166/t LCEGrota do Cirilo: $9,503/t LCEKathleen Valley: $10,203/t LCENorth American Lithium: $11,166/t LCE$11,1660

$4,292/t LCE · cheaper than about 94% of costed supply

Grey: every producing mine with a cost (width = capacity). Highlighted: this asset. Lighter dashed bars are implied costs (no reported unit cost).

Country risk · China

Policy risk: Medium As of 24 Oct 2026

Change history

Approved changes with their source · As of 25 Oct 2026
DateFieldChangeSource
25 Oct 2026implied_costnew: IMPLIED CNY 30,659/t Li2CO3 = cost of sales 1,397 m ÷ 45.564 kt Li2CO3 · 锂产品 / lithium products (碳酸锂) · FY2025 · Rules 1–3 hold for FY2025: (1) segment volume is own-resource 碳酸锂 from the Qarhan/Lanke brine–adsorption chain at 察尔汗; design table lists 4万t/y 碳酸锂 at 察尔汗工业园区 and 五矿盐湖/一里坪 equity close was 2025-12-31 青海盐湖工业股份有限公司2025年年度报告
25 Oct 2026Quarterly figuresnew: H1 2025 · production 20 kt Li2CO3 · sales 20.6 kt Li2CO3青海盐湖工业股份有限公司2025年半年度报告
25 Oct 2026Quarterly figuresnew: H1 2024 · production 18.916 kt Li2CO3 · sales 20.242 kt Li2CO3青海盐湖工业股份有限公司2024年半年度报告
25 Oct 2026Quarterly figuresnew: Q1 2024 · production 8.7 kt Li2CO3 · sales 9.9 kt Li2CO3青海盐湖工业股份有限公司2024年一季度报告
25 Oct 2026Quarterly figuresnew: Q1 2025 · production 8.514 kt Li2CO3 · sales 8.124 kt Li2CO3青海盐湖工业股份有限公司2025年一季度报告

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