Sinomine Resource to acquire 51% equity of URT Lithium Project at USD20 million
2023-02-14 11:54:04 [Print]
Sinomine Resource announced on Februrary 13th that it signed an investment framework agreement with Lithiium Century LLC and natural persons of Mongolian nationality on February 12th in order to further strengthen the reserve of lithium mineral resources and ensure the multi-channel supply of lithium raw materials. According to the agreement, Sinomine Resource will invest USD20 million to get 51% equity of URT Lithium Project through acquisition and capital increase.
The URT lithium project is located in Mongolia, with the exploration right area covering 332.02 hectares. According to the verification of the preliminary exploration results by Sinomine Resource, indicated + inferred ore estimation of the project was 1.743 million tons by February 1st and the average grade of lithium oxide (Li2O) was about 0.9%.
The URT lithium project is located in Mongolia, with the exploration right area covering 332.02 hectares. According to the verification of the preliminary exploration results by Sinomine Resource, indicated + inferred ore estimation of the project was 1.743 million tons by February 1st and the average grade of lithium oxide (Li2O) was about 0.9%.
Lithium Carbonate 99.5%min Delivered China
Unit:RMB/mt
China lithium cobaltate producers' inventory to production ratio statistics by province by month
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