Zijin Mining to acquire 71.14% shares of Houdao Mining at RMB1.8 billion
2022-06-30 16:04:00 [Print]
Zijin Mining announced on June 29th that it will acquire about 71
. 14% shares of Houdao Mining held by the transferor at about RMB1 . 8 billion (USD268 . 81 million) . Houdao Mining holds 100% properties and interests of Xiangyuan Lithium Polymetallic Mine, a large greisen-type low-grade lithium property available for large scale open-pit mining located in Dao county, Hunan province . After the acquisition is completed, Zijin Mining will play an important role in development, construction and operation of Xiangyuan Lithium Polymetallic Mine and hold shares of its downstream smelting company . The mine is initially designed to build a production capacity of 10,000,000tpy with an annual output of 60,000-70,000t of lithium carbonate equivalent contained in lepidolite . In addition, it will also build supporting facilities to smelt lithium carbonate and lithium hydroxide.