Zangge Holding Limited to invest RMB1.4 billion to build 20,000tpy-capacity lithium carbonate project
2017-09-01 17:49:11 [Print]
Zangge Holding Limited announced on August 31 at night that its wholly-owned subsidiary named Golmud Zangge Potash Fertilizer Co., Ltd. plans to invest in and establish Zangge Lithium Industry Co., Ltd. Zangge Lithium possesses abundant brine resources with natural resource superiority and will engage in production and sales of lithium carbonate on the basis of relative advanced technology from Xianfeng New Energy. It will invest in no more than RMB1.4 billion to build the lithium carbonate project with a capacity of 20,000tpy which will last for about 18 months. It the project goes into operation, it can achieve operating revenue of RMB2.4-3.0 billion with the net profits of about RMB1.8 billion per year.
On the same day, Zangge Potash Fertilizer signed Technology Usage Agreement with Xianfeng New Energy on the production technology and charges for use. In addition, they signed Lithium ion Enrichment Materials Off-take Agreement and Zangge Potash Fertilizer will purchase lithium ion enrichment material from Xianfeng New Energy, with the contract value of RMB257.3 million. The stocks of Zangge Holding Limited will resume trading on September 1.
On the same day, Zangge Potash Fertilizer signed Technology Usage Agreement with Xianfeng New Energy on the production technology and charges for use. In addition, they signed Lithium ion Enrichment Materials Off-take Agreement and Zangge Potash Fertilizer will purchase lithium ion enrichment material from Xianfeng New Energy, with the contract value of RMB257.3 million. The stocks of Zangge Holding Limited will resume trading on September 1.
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