China Mineral Resources announced that the technical renovation and recovery project of spodumene mining and separation system with an annual capacity of 120000 tons / year at the Canadian TANCO Mine, a wholly-owned subsidiary of China Mineral (Hong Kong) rare Metal Resources Co., Ltd., was officially put into production on October 15, 2021.
TANCO Mine was engaged in lithium ore mining operation from 1987 to 2009, producing spodumene concentrate products with Li2O ≥ 7.0%. According to the restored pit mining scheme, the TANCO mine retains 4.6028 million tons of lithium mineral resources of proven category + control category (Li2O ≥ 1%), with an average Li2O grade of 2.44% and a Li2O content of 112200 tons, which is of high value for development and utilization. In order to meet the raw material demand of the company's 25000-ton battery-grade lithium hydroxide and lithium carbonate production line, seize the market opportunity of lithium new energy and turn resource advantages into economic advantages, the company is actively promoting the open-pit mining plan in TANCO mining area, and the amount of lithium mineral resources retained in TANCO mining area under the condition of open-pit mining plan will be greatly increased. The feasibility study of the opencast mining scheme and the construction of a new concentrator with an annual capacity of 500000 tons / year is under way.
The production line will supplement the raw material demand of the company's lithium hydroxide and lithium carbonate production lines, further enhance the company's profitability, and have a positive impact on the company's future business performance.
