Lithium miners rise as prices surge after China revokes mining licenses

Shares of lithium miners rise after prices of the light metal surge in China

Natural resource authority in China's main lithium-producing hub Yichun said it would revoke 27 mining licenses

The most-active lithium carbonate contract on the Guangzhou Futures Exchange jumped to 109,860 yuan ($15,592.27) a metric ton, its highest since June 2024, earlier in the session before ending the day up 7.61% at 108,620 yuan

Albemarle ALB.N rises 5%, while U.S.-listed shares of Chilean miner SQM SQM.N SQMA.SN gain 7%

Canadian miners Sigma Lithium SGML.V rise 13.5%, Lithium Americas LAC.TO up 3% and Standard Lithium SLI.V gains 3.7%