Huati Lighting diversifies into lithium mining with a US$3 million strategic acquisition in Mozambique

Published: Dec 28, 2023 09:38

Source: SMM

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On December 27, Sichuan Huati Lighting Technology, a company specializing in urban lighting products, has announced its investment plan in the lithium mining sector by acquiring an 85% stake in Mozambican lithium-mining firm Kyushu Resources for US$3 million. Kyushu Resources is established in August 2023 and has acquired a prospecting right certificate which is valid until 15 December 2028.
Huati estimates the operating revenue can reach US$103.6 million and the total profit is US$45.6 million when the project is at full capacity and under stable lithium carbonate prices. This strategic move aims to strengthen its position in the renewable energy supply chain and business model diversification. Yet, Huati’s venture into lithium mining is not without challenges. Huati faces risks associated with volatile lithium prices, operational complexities, foreign regulatory hurdles, and intense competition with more established Chinese lithium miners in Africa like Huayou Cobalt and Chengxin Lithium.

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