Yahua International and China-Africa Industry signed an equity sale and purchase agreement

On November 24, Yahua Group announced that its wholly-owned subsidiary Yahua International and China-Africa Industrial signed the Share Sale and Purchase Agreement on the same day
.

IT IS REPORTED THAT YAHUA INTERNATIONAL INTENDS TO ACQUIRE 70% OF THE EQUITY OF SSC COMPANY AND INDUSMIN COMPANY, A WHOLLY-OWNED SUBSIDIARY OF CHINA AFRICA INDUSTRY, FOR A TOTAL CONSIDERATION OF NOT MORE THAN 145 MILLION USD USD, AND INDIRECTLY OWNS 70% OF THE FOUR LITHIUM MINING RIGHTS IN THE DAMALAND MINING AREA IN NAMIBIA, WITH A MINING AREA OF 720 SQUARE KILOMETERS
.

Yahua Group said that the company's acquisition of 70% of the equity of a wholly-owned subsidiary of China-Africa Industry and the investment in Namibia lithium mine is to improve the company's independent and controllable resources again, match the company's future lithium salt production capacity expansion, in line with the company's lithium industry strategic development plan, and lay a solid foundation
for the company's independent and controllable mine proportion to reach 50% in 2025.
After the completion of this transaction, it will further expand the supply channels of raw materials required for lithium salt in the future, and enhance the competitiveness and profitability of product costs
.

It is reported that China-Africa Industry is mainly engaged in the development of mineral resources in Africa, agriculture and animal husbandry, new energy and other industrial investments, and its main business includes non-metallic mining in South Africa and Namibia and exploration and development
of lithium resources in the Uis area of Namibia.