Ganfeng Lithium to acquire 70% stake in Mengjin Mining
2023-07-28 10:04:30 [Print]
The Board of Directors of Ganfeng Lithium has given approval for the company to acquire a 70% equity interest in Xianghuangqi Mengjin Mining Development Co., Ltd. for a cash consideration of RMB1.424 billion (USD200 million).
Mengjin Mining owns Gabus niobium tantalum mine located in Xianghuang Banner, Xilin Gol League, Inner Mongolia. The underground mine has a mining area of 2.34 square kilometers and a mining scale of 600,000 tonnes per year. The current mining license is valid until November 6, 2023.
As of the reserve estimation benchmark date (April 30, 2023), Gabus mining area has total mineral resources of 72.443 million tons. The Li2O ore resource totaled 66.78 million tons at an average grade of 0.67% Li2O, containing 450,682 tons of Li2O metallic oxide; Ta2O5 ore resource was 69.40 million tons at an average grade of 0.014%, containing 9,448 tons of Ta2O5 metallic oxide; Nb2O5 ore resource was 63.07 million tons at an average grade of 0.008% Nb2O5, equivalent to 4,772 tons of Nb2O5 metallic oxide.
Mengjin Mining owns Gabus niobium tantalum mine located in Xianghuang Banner, Xilin Gol League, Inner Mongolia. The underground mine has a mining area of 2.34 square kilometers and a mining scale of 600,000 tonnes per year. The current mining license is valid until November 6, 2023.
As of the reserve estimation benchmark date (April 30, 2023), Gabus mining area has total mineral resources of 72.443 million tons. The Li2O ore resource totaled 66.78 million tons at an average grade of 0.67% Li2O, containing 450,682 tons of Li2O metallic oxide; Ta2O5 ore resource was 69.40 million tons at an average grade of 0.014%, containing 9,448 tons of Ta2O5 metallic oxide; Nb2O5 ore resource was 63.07 million tons at an average grade of 0.008% Nb2O5, equivalent to 4,772 tons of Nb2O5 metallic oxide.
Tantalum Pentoxide 99.99%min EXW China
Unit:RMB/kg
China tantalum metal producers' operating rate statistics by province by month
Unit: %
