Ganfeng Lithium Industry to increase its holdings of Mexico Sonora Project is scheduled to be put into production in 2023

SMM11 March 17: it is reported that Gan Feng Lithium has exercised its option to increase its stake in its Mexican Sonora project, increasing its stake from 22.5% to 50%, at a cost of 23 million pounds (US $30 million).

The Sonora project is owned by lithium prospector and developer Bacanora Minerals.

It is reported that if the financing of the Sonora project is completed, it will be put into production in 2023.

According to the Ganfeng Lithium Industry announcement, the Sonora project is a lithium clay lithium extraction project located in Mexico and is currently one of the largest lithium resource projects in the world. The total lithium resource of the project is about 8.8 million tons of lithium carbonate equivalent. It is estimated that the annual production capacity of lithium hydroxide after the first phase of the project is put into production is 20000 tons.