Dazhong Mining to set up 3-billion-yuan lithium subsidiary in Sichuan
2023-08-18 11:25:12 [Print]
Dazhong Mining announced a plan to invest RMB3 billion (USD412 million) to set up a wholly-owned subsidiary in Maerkang, Sichuan to facilitate local management after its subsidiary Anhui Dazhong New Energy Investment won the auction for the mining claim of Jiada Lithium Mine for RMB4.21 billion (USD579 million) on August 18.
The planned subsidiary, Sichuan Dazhonghe Lithium, would help the company to integrate resources and expand access to lithium ore resources in Sichuan, which holds 50.8% of proven lithium reserves in China, for taking on the new energy industry.
The planned subsidiary, Sichuan Dazhonghe Lithium, would help the company to integrate resources and expand access to lithium ore resources in Sichuan, which holds 50.8% of proven lithium reserves in China, for taking on the new energy industry.
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