GCL Energy signed Zimbabwe lithium mine development agreement

Recently, GCL Energy Technology issued an announcement that GCL Energy Technology Lithium Battery New Energy Co.
, Ltd.
, a wholly-owned subsidiary of the company, and Zim-Thai Tantalum (Private) Limited The Company (hereinafter referred to as Zim-Thai) signed a cooperation agreement
on lithium resource development.

According to reports, Zim-Thai is mainly engaged in the exploration of mineral resources and the development and exploitation of mineral resources, and it has EPO1780 and EPO1781 prospecting rights in Zimbabwe, with a total area of 820 square kilometers
.
The agreement stipulates that Zim-Thai will divide the area with lithium mine potential of EPO1780 into three blocks, and establish a project company respectively, and GCL Lithium Battery will preferentially select one of them for cooperation, and hold 51% of the shares of
the project company.
Zim-Thai promises that the project company will eventually hold no less than 500,000 tons of lithium oxide reserves, otherwise it will reselect blocks in other block areas to complete the 500,000 tons of lithium oxide resource reserves, and the tenements will be transferred to the project company that the two parties will cooperate
.

The announcement said that the signing of the agreement is conducive to promoting the company's overseas exploration of lithium resources, accelerating foreign lithium resource reserves, and contributing to the company's future resource layout and integration
of lithium battery-related industrial chains.