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Home / Metal News / Hanrui Cobalt to raise 1.9 billion yuan to build cobalt, ternary precursor projects

Hanrui Cobalt to raise 1.9 billion yuan to build cobalt, ternary precursor projects

Nov 14, 2019 14:57

Source:SMM

The project is designed to produce 10,000 mt in Co content of cobalt new materials, 26,000 mt of ternary precursor a year

SHANGHAI, Nov 14 (SMM) – Hanrui Cobalt Co. Ltd. has announced plans to raise 1.9 billion yuan by issuing 53.8 million private shares in mainland China to no more than 5 certain investors.

The Nanjing-based cobalt producer said in a statement on Wednesday November 13 that the funds will be used to build a project in Ganzhou, Jiangxi province that can produce 10,000 mt in Co content of cobalt new materials and 26,000 mt of ternary precursor a year.

The company also said that its 5,000 mt/year cobalt metal refinery in the Democratic Republic of Congo and 3,000 mt/year cobalt powder project in east China’s Anhui province are ready to come online.

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