Xiamen Tungsten New Energy Approves $3.15 Billion Cathode Material Project in France with Orano PCAM

[Xiamen Tungsten New Energy's 40,000-ton Cathode Material Project Lands] Xiamen Tungsten New Energy announced on August 2 that the company's board of directors reviewed and approved the investment plan for a 40,000-ton cathode material precursor project in France with an annual output the day before.

Xiamen Tungsten Europe plans to jointly establish Xiamen Tungsten New Energy Technology Co., Ltd. (France) with Orano PCAM in France, with Orano PCAM holding a 51% stake and Xiamen Tungsten New Energy Europe holding a 49% stake.

The two parties will take the joint venture as the main entity to build a 40,000-ton cathode material precursor project with an annual output in Dunkirk, Hauts-de-France, France. The total investment for the project construction is proposed to be 3.15 billion yuan (including tax).