A few days ago, Hainan Mining said that it is currently focusing on the operation of the two major resource industries, iron ore and oil and gas, and does not involve cobalt mining and processing business. The company's 20,000 tons of lithium hydroxide project (phase I) is still in the pre-formalities stage, has not yet officially started construction, does not involve the procurement of raw materials.
In a survey conducted by investors on March 17, Hainan Mining said that it signed a strategic cooperation framework agreement with the Oriental Municipal Government of Hainan Province in June 2021, and completed the approval process of the general meeting of shareholders of the project in early September. As of the date of research, the core management team of the project has been set up, and the technological process and plane layout design of the project have been completed; at present, the company is actively communicating with relevant departments of Hainan Province and Dongfang Municipal Government to promote land expropriation and transfer. The project will officially start after the acquisition of land, with a construction period of about 14 to 16 months.
