Recently, Aoshan Industrial announced that it will cooperate with France's Hermann to develop lithium mines in Argentina, and signed an agreement for the 24,000-ton LCM battery grade lithium extraction project in Argentina's Centenario-Ratones Salt Lake. The project is scheduled to start construction in early 2022 and reach commercial operation in 2024.
It is reported that Qingshan Industrial and Ehrman cooperated to develop the laterite nickel iron project in WedaBay, Indonesia as early as 2017. In less than two years, the project was completed and put into operation in April 2020, deepening the trust and cooperation between the two sides.
Ehrman holds permanent mining rights to the entire salt lake Centenario-Ratones in Salta Province, Argentina. The salt lake covers an area of about 500 square kilometers and has an altitude of about 3,800 meters. The proven reserves are 1.1 million tons of lithium carbonate equivalent, and the proven resources are about 10 million tons of lithium carbonate equivalent. The average lithium concentration is about 400mg/L.
According to the analysis of Minmetals Securities, Ehrman had planned to start construction at the end of 2019, but was forced to mothball the project in April 2020 due to financial difficulties caused by the global epidemic. This time, Qingshan Industrial will provide us $375 million in financing to acquire 49.9% equity of lithium extraction plant. Ehrman has invested US $185 million in the early stage, and only needs to add US $25 million. It will retain the controlling equity (50.1%) and the operation right, and will sell the equity solely in accordance with the proportion in the future. Our previous successful cooperation on Indonesian laterite nickel has also laid a solid foundation for our cooperation again.
In addition, according to the data released by business on November 15, at present, the price of battery grade lithium carbonate is about 195 thousand yuan/ton, the market inventory appears low, so the supply and demand pressure is increasing, it is expected that the short-term lithium carbonate price still has upward space.
Manly Battery which located in Shenzhen,China. A leading Lithium battery manufacturer over 12 years ,if there is any project need to evluate ,pls feel free tosend email to info@manlybatteries.com
