Anzhong shares: proposed acquisition of Jiangxi Lithium Mine assets

According to the announcement of Anzhong shares on August 5, the company signed an equity acquisition intention agreement with Qiang Qiang Investment and other parties, intending to acquire no less than 51% of Jiangxi Tongan with its own funds. Jiangxi Tongan holds 70% of Jiangxi Dingxing Mining and 49% of Jiangxi Xingli. Dingxing Mining also holds a 51% stake in Jiangxi Xingli. As of August 5, 2021, Dingxing Mining holds a total of 6 porcelain clay mining rights, with cumulative identified resource reserves (332-333) totaling about 60 million tons.

After the completion of this transaction, the project is expected to mine about 1.35 million tons of raw ore, produce about 900000 tons of potassium albite powder, about 300000 tons of lithium concentrate, and equivalent to about 23000 tons of lithium carbonate.