On December 22, China Union Holdings Ltd. announced that the company intends to use its own funds or raised capital, amounting to approximately USD 175 million (equivalent to Yuan 1.235 billion), to acquire 100% of the shares of Argentum Lithium S.A. held jointly by Lithium Chile Inc. and Steve Cochrane, thereby securing an 80% interest in the Arizaro Project.
On the same day, the company signed the Share Purchase Agreement with the counterparties. The future primary revenue of the target company is expected to be derived from lithium extraction from salt lakes, with its main product being battery-grade lithium carbonate.
This transaction will create synergistic effects with the company's previously deployed businesses, such as lithium extraction from salt lakes and adsorbent production. It will further assist the company in refining its investment layout across the new energy industry chain and steadily advance its industrial transformation efforts.
Edited by Cassie Li, lixiangying@mysteel.com
