Tengyuan Cobalt announced that on September 12, 2025, the company held the third meeting of its fourth board of directors, during which the Proposal on Adjusting Part of the Fundraising Projects was reviewed and approved. The plan is to maintain the overall production capacity unchanged, including 39,500 tonnes of cobalt products, 60,000 tonnes of nickel products, 21,820 tonnes of manganese products, and 20,000 tonnes of lithium carbonate.
Under this premise, the company will reallocate Yuan 588 million of unutilized funds from the original fundraising project "Expansion and Improvement of Related Supporting Construction for the Off-Site Intelligent Technological Transformation and Upgrade of Annual Production of 20,000 Tonnes of Cobalt and 10,000 Tonnes of Nickel Metal Series Products, and Supporting Raw and Auxiliary Material Production". Specifically, the planned production capacity of 120,000 tonnes of ternary precursors will be reduced to 80,000 tonnes. The freed-up fixed asset investment of approximately Yuan 588 million will be entirely redirected to the "Annual Production of 30,000 Tonnes of Copper and 2,000 Tonnes of Cobalt Hydrometallurgical Plant Project". Additionally, the company's subsidiary, Hechuang New Energy Mining Simplified Co., Ltd., will be added as the implementing entity. The new implementation location will be at No. 260B, Bagine Ngangui Avenue, Latin Community, Manika District, Kolwezi City, Lualaba Province, Democratic Republic of the Congo.
Edited by Cassie Li, lixiangying@mysteel.com
