Ganfeng Lithium Industry: Ganfeng International plans to acquire 50% stake in SPV in the Netherlands for US $130 million to provide financial assistance to promote the construction of Goulamina spodumene mine project.

Ganfeng Lithium announced that the board of directors agreed to buy a 50 per cent stake in Dutch SPV with its own capital of US $130 million. Upon completion of the transaction, Ganfeng International can provide financial assistance of up to US $40 million to LMSA, a wholly owned subsidiary of SPV of the Netherlands, to assist in the development and construction of the Goulamina spodumene project. After the completion of the investment, the company will be granted 50% of the annual production capacity of about 455000 tons of spodumene concentrate in the first phase of the Goulamina project. If the company directly provides financial assistance or assists LMSA in obtaining debt funds provided by third-party banks or other financial institutions, it can obtain the right to underwrite the remaining 50% of the production capacity of the first phase of the project.