The most comprehensive A-share non-ferrous metals investment strategy—exclusively featuring monopolistic industry leaders, six of which are heavily held by China’s Social Security Fund.

No. 2: China National Gold Group Co., Ltd. China National Gold Group is the leading state-owned gold enterprise in China, with proven gold resources of 894.55 tonnes and reserves of 351 tonnes (equity reserves approx. 187 tonnes). Its core operations rely on mining areas in Zhaoyuan (Shandong) and Lingbao (Henan), as well as the 372-tonne Shalingshan gold deposit. In 2024, it produced 18.35 tonnes of mine-produced gold—the third-highest in China. No. 3: Chifeng Gold Co., Ltd. Chifeng Gold is a high-growth, international gold mining company listed in China, ranked fifth among domestic-listed gold enterprises. In 2024, it produced 15.16 tonnes of gold—the fourth-highest in China, with 74.2% sourced overseas. It maintains an A+H share listing structure and boasts prominent advantages in high-grade ore and low production costs. Its overseas operations center on the Sepon mine in Laos and the Wassa mine in Ghana. Its gold reserves total 74.83 tonnes, and its resources amount to 390.1 tonnes—with approximately 80% located overseas. No. 4: Western Gold Co., Ltd. Western Gold is the leading gold enterprise in Xinjiang. As of end-2024, its gold resources totaled approx. 32 tonnes; it produced 9.59 tonnes of gold in 2024—the sixth-highest in China. Its core assets include the Hatu mine and others, and it is advancing the acquisition of Xinjiang Meisheng (holding 78.7 tonnes of gold resources). Four leading A-share lithium-mining stocks: No. 1: Ganfeng Lithium Co., Ltd. Ganfeng Lithium is the global leader in the lithium industry. As of end-2024, its lithium resource reserves exceeded 84 million tonnes LCE (first in China), and its equity reserves reached 30.72 million tonnes LCE (first globally). It covers diverse resource types and maintains a global footprint. Its lithium compound market share ranks among the world’s top three, and its metallic lithium output leads globally. No. 2: Tianqi Lithium Corp. Tianqi Lithium is one of the two global lithium industry leaders. Its equity lithium resource reserves exceed 20 million tonnes LCE. It controls premium mines such as Greenbushes in Western Australia. Its spodumene concentrate and lithium compound production capacities lead the industry, supported by significant cost advantages and long-term supply agreements with top-tier global customers. No. 3: Sinomine Resource Group Co., Ltd. Sinomine is the global leader in lithium fluoride. As of end-2024, its lithium resources exceeded 3.14 million tonnes LCE—primarily from mines including Bikita in Zimbabwe. Its total lithium salt production capacity stands at 71,000 tonnes/year, and its global lithium fluoride market share exceeds 60%. No. 4: Salt Lake Potash Co., Ltd. Salt Lake Potash is China’s leading brine-based lithium extraction enterprise, anchored by the Qarhan Salt Lake. Its lithium reserves range between 8.24–12.04 million tonnes LCE. By 2025, its lithium salt production capacity will reach 80,000 tonnes/year, with extraction costs of RMB 30,000–40,000/tonne—among the lowest in the industry. Four leading A-share rare-earth stocks: No. 1: Baotou Steel Rare-Earth (Group) Hi-Tech Co., Ltd. Baotou Steel Rare-Earth is the undisputed global leader in light rare earths, leveraging the Bayan Obo mine to hold over 8 million tonnes REO in reserves (accounting for 83% of China’s light rare earth reserves). It leads globally in mining quotas, rare-earth separation & refining capacity, and magnet production capacity—and serves as a core supplier to the global rare-earth market. No. 2: China Rare Earth Group Co., Ltd. China Rare Earth Group is the undisputed global leader in medium-to-heavy rare earths, relying on southern ion-adsorption-type rare-earth deposits. Its related reserves constitute a core share of global medium-to-heavy rare-earth resources. In 2025, it holds 100% of China’s heavy rare-earth mining quotas and 24% of light rare-earth quotas, with a fully integrated industrial chain. No. 3: Shenghe Resources Holding Co., Ltd. Shenghe Resources is a global rare-earth industry leader, holding equity rare-earth reserves of approx. 500,000–800,000 tonnes REO. Its global resource network spans China, Africa, and North America. It operates across the full spectrum of light, medium, and heavy rare earths, with refining and separation capacity consistently ranking among the industry’s top tier. Its global rare-earth oxide market share stands at approx. 15%.

Four major overnight positive catalysts; top 10 A-share lithium-mining leaders identified—with three posting explosive earnings growth.

No. 10: Jiangte Motor Co., Ltd.: lithium salt shipments of 15,800 tonnes; lithium resource reserves approx. 1.5 million tonnes LCE. The three lithium-mining leaders with the strongest year-to-date Q3 2025 earnings growth: Ganfeng Lithium: revenue up 5% to RMB 14.6 billion; net profit up 104% to RMB 26 million. Tianqi Lithium: revenue down 27% to RMB 7.4 billion; net profit up 103% to RMB 180 million. Weiling Shares Co., Ltd.: revenue down 54% to RMB 200 million; net profit up 88% to -RMB 13 million. Rongda Shares Co., Ltd.: revenue up 26% to RMB 500 million; net profit down 21% to RMB 144 million. Yongxing Materials Co., Ltd.: revenue down 11% to RMB 5.5 billion; net profit down 45% to RMB 532 million. Shengxin Lithium Energy Co., Ltd.: revenue down 12% to RMB 3.1 billion; net profit down 63% to -RMB 752 million. Tibet Mining Industry Co., Ltd.: revenue down 65% to RMB 200 million; net profit down 105% to -RMB 7 million. Yongsha Lithium Co., Ltd.: revenue down 17% to RMB 3.9 billion; net profit down 422% to -RMB 163 million. Ganfeng Lithium’s revenue for the first three quarters of this year rose 5% to RMB 14.6 billion, while its net profit surged 103% to RMB 25.52 million. Ganfeng Lithium’s substantial earnings growth stems from rebounding lithium prices boosting lithium salt sales volume, ramp-up of low-cost, in-house lithium mine capacity, strong growth in energy storage and solid-state battery businesses, plus non-recurring gains from fair-value changes in financial assets and equity disposals—bolstered further by its globally diversified resource portfolio forming a structural cost advantage. Tianqi Lithium’s revenue for the first three quarters of this year declined 26.5% to RMB 7.4 billion, while its net profit rose 103% to RMB 180 million. Tianqi Lithium’s robust earnings growth was primarily driven by improved profitability in its lithium salt business due to rising lithium prices, enhanced investment income from its equity stake in SQM (which posted strong results), and continued cost discipline and resource advantages—especially its ownership of the Greenbushes lithium mine—which further strengthened its profitability. Yongsha Lithium’s revenue for the first three quarters of this year fell 17% to RMB 3.9 billion, while its net profit plunged 422% to a loss of RMB 163 million. Yongsha Lithium’s severe losses stemmed mainly from persistently weak lithium salt prices eroding gross margins, increased asset impairments, higher operating and financing costs associated with commissioning its Phase II expansion, and reduced VAT input tax credit benefits compressing its profit margin. A review of the lithium-mining sector reveals four compelling bullish drivers: First: Demand-side growth across multiple sectors: New energy vehicle (NEV) production and sales continue rising steadily, with penetration rates climbing continuously—remaining the core engine of lithium demand. Meanwhile, the energy storage sector has emerged as the largest incremental market: supportive policies have set clear new installation targets, and orders for energy storage batteries have exceeded expectations—prompting leading manufacturers to operate at full capacity.

Albemarle vs. Rio Tinto: Which Lithium Stock Holds More Promise?

Sep 29, 2026

Investment analysis compares Albemarle and Rio Tinto in the lithium market, highlighting growth potential from EV demand despite price pullbacks. Rio Tinto is favored due to better valuation, rising earnings, and higher return on equity.