On May 15, Dazhong Mining announced that the total amount of funds to be raised through this issuance of convertible corporate bonds to unspecified targets shall not exceed Yuan 2.5 billion (inclusive). After deducting issuance expenses, the proceeds are planned to be used for the 20 million tonnes per year lithium mining, processing, and tailings integration project (Phase I) at the Tongtianmiao ore block of the Jijiaoshan mining area in Linwu County, Hunan Province, an annual 40,000-tonne lithium carbonate project, and the repayment of bank loans.
Edited by Cassie Li, lixiangying@mysteel.com
