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Zijin Mining acquires Neo Lithium, a lithium salt manufacturer, with a tender offer of 5 billion yuan

 Last Update: 2021-10-20
 Source: Internet
 Author: User

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Sinochem News Network News Zijin Mining announced on October 10 that it will acquire Neo Lithium Corp in cash for a transaction value of approximately 960 million Canadian dollars (approximately RMB 4.

The core assets of New Lithium are the 100% owned 3Q lithium salt lake project in Argentina, and the TresQuebradas Salar ("3Q") lithium salt lake project in Catamarca province in northwestern Argentina.

The 3Q project is located at the southern end of the famous Puna Plateau "Lithium Triangle", in the southwestern region of Catamarca Province, Argentina's largest lithium production area

According to the new lithium company's pre-feasibility study report in April 2021, the 3Q project plans to produce 20,000 tons of battery-grade lithium carbonate per year, with a mine life of 35 years

The 3Q project is designed to produce 20,000 tons of lithium carbonate per year based on minimal financing.

Since October 2016, New Lithium has built two experimental evaporation tank systems in the Salt Lake area, and has built a pilot plant with an annual production capacity of 40 tons of lithium carbonate

According to public information, the top five shareholders of New Lithium are: CATL New Energy Technology Co.

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