Huayou Cobalt Plans to Invest in the Construction of Huashan Nickel-Cobalt through Its Wholly-Owned Subsidiary

SHANGHAI, Jun 21 (SMM) - 

Huayou Cobalt issued an announcement on investment that the company plans to jointly build Huashan Nickel-Cobalt with an annual output of 120,000 mt of Ni content and nickel-cobalt hydroxide hydrometallurgy project with Glaucous through its wholly-owned subsidiary Huatuo International Development Pte. Ltd.

The total investment of Huashan Nickel-Cobalt is $2,604.191 million (including $157.159 million of full-calibre working capital and $47.148 million of initial working capital). The authorized capital of Huashan Nickel-Cobalt is $1 million, of which the company should pay $680,000, with a shareholding ratio of 68%; Glaucous should pay $320,000, with a shareholding ratio of 32.00%.

The company intends to build Arcadia lithium mine development project through a joint venture between Huayou International Mining and TIMGO.

The investment in this project is $274.9911 million (total investment is $696.9911 million, of which the acquisition cost is $422.000 million. For details of the acquisition, please refer to the Company’s Announcement No. 2021-152). Prospect LithiumZimbabwe (Pvt) Ltd is planned to be held 90.00% by Huayou International Mining and 10.00% by TIMGO.

The company plans to invest in the construction of a battery-grade lithium salt project with an annual output of 50,000 mt through its wholly-owned subsidiary Huayou Lithium Industry.

The total investment of the project is 2,580,801,200 yuan (including 664,050,000 yuan of full-caliber working capital, of which 199,220,000 yuan is the initial working capital).