Ganfeng Lithium Industry overseas acquires Chuanlihao Goulamina spodumene Mine to expand its production capacity of 4 million tons per year, an increase of 75%.

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On December 2, Ganfeng Lithium Industry issued a "Progress announcement on Ganfeng International's acquisition of 50 per cent equity interest in Dutch SPV company involving mining rights investment", revealing the progress of its subsidiary Ganfeng International's acquisition of 50 per cent equity stake in Dutch SPV company, as well as information on the expansion and production of Goulamina spodumene mine.

Ganfeng Lithium said in the announcement that it had recently received notification from Ganfeng International that all the prerequisites contained in the transaction agreement had been met and that Ganfeng International had completed the payment of $39 million for the first phase of the equity deal. Ganfeng International will hold a 50 per cent stake in SPV of the Netherlands upon completion of the final transaction.

After the establishment of the Dutch company SPV, the mining license for the Goulamina spodumene mine will be transferred to the Dutch company SPV, and the transfer is expected to be completed in early 2022.

At the same time, Ganfeng Lithium Industry also reported the progress of the project in the announcement. It has been disclosed that Goulamina spodumene partner Firefinch is working on an updated final feasibility study report (Updated Definitive Feasibility Study), considering the expansion of the second phase of the Goulamina spodumene project. The project capacity will increase from 2.3 million tons per year to 4 million tons, an increase of 75 percent, and the production capacity of spodumene concentrate will be correspondingly increased from about 450000 tons per year, making the Goulamina spodumene project one of the largest spodumene producers in the world.