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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