Shulou(Shulou.com)11/24 Report--

CTOnews.com Sept. 7 news, this morning, Ningde Times canceled the production cooperation with Yongxing Lithium Carbonate, in the interactive easy platform responded: "due to the actual situation and the situation in the project preparation process, the company amicably negotiated with the other party to terminate the agreement."

Ningde Times said, "the core of the company's lithium-bearing porcelain clay development progress depends on previous processes such as mining, rather than back-end lithium carbonate smelting capacity. The company has successively won exploration rights and mining rights, and the business is progressing smoothly. And the company has a number of lithium carbonate smelting capacity partners, which will not affect the progress of lithium mine development because of changes in this matter."

According to public data, Yongxing Materials announced on January 26 this year that it intends to set up a joint venture with Ningde Times (registered in Yichun) to jointly invest in the construction of lithium carbonate projects and carry out cooperation in related product fields. With a total investment of no more than 2.5 billion yuan, the project plans to build 6 million tons of mining capacity (mainly contracted for some mine operations in the Ningde era), 6 million tons of mineral processing capacity and 50,000 tons of lithium carbonate capacity.

However, Yongxing material announced on September 5 that the two sides negotiated to terminate the "joint venture agreement" because of the new situations that actually appeared and faced in the preparation of the project, and the two sides would seek other ways of cooperation according to the actual situation.

CTOnews.com learned that Yichun, known as the "lithium capital of Asia", has the world's largest lithium mica mine, with lithium oxide reserves as high as 5 million tons of lithium carbonate production, and lithium oxide accounts for 31 per cent of the country's total and 12 per cent of the world's.

Ningde era has recently stepped up efforts to improve the layout of new energy mineral resources and upstream materials. Ningde Times mentioned in an institutional survey on August 23 that the lithium-bearing porcelain clay mine owned by Yichun time Mining, a holding subsidiary, has recently obtained mining rights and will press ahead with the follow-up work step by step. In addition, the Ningde era also expanded the source of raw materials through the field of layout and recycling.

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