Yongxing material plans to set up a joint venture company to build a lithium carbonate project with an annual capacity of 20,000 tons.

SMM February 16: last night, Yongxing Materials announced that Jiangxi Yongxing Special Steel New Energy, a wholly owned subsidiary of the company, signed a "letter of intent" with Jiangxi tungsten industry to set up a joint venture company to build a 20, 000-ton lithium carbonate project. The two sides will set up a joint venture company in Yichun by way of currency and cash contribution, of which Jiangxi tungsten industry accounts for 51% and Yongxing special steel new energy accounts for 49%. The joint venture company is mainly engaged in the production and sales of battery-grade lithium carbonate, and the battery-grade lithium carbonate produced is supplied to Ningde era.

According to the announcement, the planned production capacity of the joint venture is 20,000 tons of lithium carbonate per year. The project is divided into two phases. In the first phase, the annual output of lithium carbonate is 10,000 tons. Jiangxi tungsten industry is responsible for providing lithium mica raw materials, and Yongxing Special Steel is responsible for preparing lithium mica into battery-grade lithium carbonate.

According to public data, Jiangxi tungsten industry is mainly engaged in the exploration, mining, selection and sales of non-ferrous metals as well as smelting and Calendering processing of non-ferrous metals.