On the evening of December 30th, Chengxin Lithium announced that the company intends to acquire a 30% equity stake in Sichuan Qicheng Mining Co., Ltd. for Yuan 2.08 billion in cash through its wholly-owned subsidiary, Sichuan Chengtun Lithium Industry Co., Ltd. Upon completion of the above transaction, Chengtun Lithium Industry will hold a 100% equity stake in Qicheng Mining and further strengthen its controlling interest in Huirong Mining.
Information shows that Qicheng Mining is a controlled subsidiary of the company's wholly-owned subsidiary, Chengtun Lithium Industry. Shengtun Lithium Industry and Taichen Mining hold 70% and 30% equity stakes in Qicheng Mining, respectively. Qicheng Mining's controlled subsidiary, Huirong Mining, holds the mining rights certificate for the Murong Lithium Mine. The Murong Lithium Mine has proven Li2O resources of 989,600 tonnes, with an average grade of 1.62%, making it one of the highest-grade lithium mines in the Sichuan region. The mine has an annual production capacity of 3 million tonnes and is currently actively advancing its development and construction.
Edited by Cassie Li, lixiangying@mysteel.com
