Dazhong Mining announces resource estimates for lithium mine in Hunan
2024-12-10 16:04:13 [Print]
Dazhong Mining has provided the latest mineral resource estimates for an ore block of Jijiaoshan lithium mine in Linwu, Hunan, which is owned by its wholly-owned subsidiary Chenzhou Chengtai Mining Investment Co., Ltd.
As of August 31, 2024, the mineral resource estimates for Tongtianmiao ore block totaled 489.87 million tonnes at 0.268% LiO2 on average, containing 1,313,500 tonnes of lithium oxide, making it a large-sized mineral deposit according to industry standards. At the conversion coefficient of 1:2.47 between lithium oxide and lithium carbonate, the lithium carbonate equivalent (LCE) at Tongtianmiao ore block amounted to 3,244,300 tonnes.
Dazhong Mining began search for lithium in Hunan from 2022. In the following year, the company acquired an 80% stake in Chenzhou Chengtai at a relatively low cost before becoming the sole owner of Chenzhou Chengtai through a bankruptcy reorganization, and thus indirectly owned the exploration right of Jijiaoshan lithium mine. The total cost for acquiring the exploration right of Jijiaoshan lithium mine is estimated at RMB209 million (USD28.85 million).
As of August 31, 2024, the mineral resource estimates for Tongtianmiao ore block totaled 489.87 million tonnes at 0.268% LiO2 on average, containing 1,313,500 tonnes of lithium oxide, making it a large-sized mineral deposit according to industry standards. At the conversion coefficient of 1:2.47 between lithium oxide and lithium carbonate, the lithium carbonate equivalent (LCE) at Tongtianmiao ore block amounted to 3,244,300 tonnes.
Dazhong Mining began search for lithium in Hunan from 2022. In the following year, the company acquired an 80% stake in Chenzhou Chengtai at a relatively low cost before becoming the sole owner of Chenzhou Chengtai through a bankruptcy reorganization, and thus indirectly owned the exploration right of Jijiaoshan lithium mine. The total cost for acquiring the exploration right of Jijiaoshan lithium mine is estimated at RMB209 million (USD28.85 million).
Lithium Hydroxide LiOH 56.5%min, Magnets 0.0001%max Delivered China
Unit:RMB/mt
China's lithium maganate producers' inventory to production ratio statistics by province by month
Unit: %
