Ganfeng Lithium to acquire over 5% shares of Jintai Potash Fertilizer
2023-05-11 16:04:03 [Print]
Ganfeng Lithium announced on May 9th that its wholly-owned subsidiary, Qinghai Liangcheng Mining Co., Ltd., will acquire 5.49% shares of Jintai Potash Fertilizer held by Beijing Water Business Doctor with a price of RMB274 million (USD39.52 million). Qinghai Liangcheng will totally hold 39.15% shares of Jintai Potash Fertilizer after the deal is completed.
Jintai Potash Fertilizer mainly develops minerals in Balun Mahai Sylvite Mine, a mine located in North Tsaidam Basin in Qinghai and is rich in mineral resources such as lithium, potash, boron and magnesium. The mining right of the mine covers the designed available lithium chloride specific yield resource reserves of 1,634,900t and the designed recoverable lithium chloride reserves of 1,307,900t, equivalent to 1,138,400t of lithium carbonate, with the average lithium chloride grade of 168.87mg/L.
Jintai Potash Fertilizer mainly develops minerals in Balun Mahai Sylvite Mine, a mine located in North Tsaidam Basin in Qinghai and is rich in mineral resources such as lithium, potash, boron and magnesium. The mining right of the mine covers the designed available lithium chloride specific yield resource reserves of 1,634,900t and the designed recoverable lithium chloride reserves of 1,307,900t, equivalent to 1,138,400t of lithium carbonate, with the average lithium chloride grade of 168.87mg/L.
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