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Take the new energy "express"! Tibet Mining Invests Ten Thousand Tons of Battery Grade Lithium Carbonate Project
Tibet Mining disclosed on September 25 that its holding subsidiary Tibet Xigaze Zabuye Lithium High-Tech Co., Ltd. signed a major contract. The contract project is the green comprehensive development and utilization of 10,000-ton battery-grade lithium carbonate project (EPC O contract) in Zabuye Salt Lake, Tibet, and the first successful candidate is Donghua Engineering Technology Co., Ltd.
Tibet Mining Industry25 SeptemberDisclosure, holding subsidiary Tibet Xigaze Zabuye Lithium High-Tech Co., Ltd. signed a major contract. The contract project is the green comprehensive development and utilization of 10,000-ton battery-grade lithium carbonate project (EPC O contract) in Zabuye Salt Lake, Tibet, and the first successful candidate is Donghua Engineering Technology Co., Ltd.
It is reported that the project has an annual output of 9600 tons of battery-grade lithium carbonate, 2400 tons of industrial-grade lithium carbonate and 156000 tons of potassium chloride. The bid price is about 2.873 billion yuan (excluding tax), of which the total contract fee for EPC project is 1.918 billion yuan and the operation fee is 0.956 billion yuan.
Mining trend processing
The Zabuye battery-grade lithium carbonate project is a step in the expansion of new business in Tibet Mining.
Tibet Mining is the largest comprehensive mineral product development company in Tibet, mining and deep processing of chromite, lithium, copper, gold and boron resources. The company's main business is mineral mining, in 2020, mining business revenue accounted for 82.92 percent of total revenue, up to 0.318 billion billion yuan; chromium products and lithium products for the company's two main products, revenue accounted for 82.34 percent and 5.81 percent, respectively.
Tibet Mining's 2020 annual report shows that the company's own lithium products are mainly lithium concentrates, while battery-grade lithium carbonate is to be further processed on the basis of lithium concentrates. The battery-grade lithium carbonate project is a step for Tibet Mining to expand its processing business.
Annual output of 9600 tons of battery-grade lithium carbonate
The green comprehensive development and utilization of 10,000-ton battery-grade lithium carbonate project in Tibet's Zabuye Salt Lake disclosed this time is a key planning project of Tibet's mining industry, and preparations will begin in July 2020.
The planned construction period of the project is 669 calendar days, which is planned to be completed on July 30, 2023 and put into operation on September 30, 2023. The scale of the project is 9600 tons of battery-grade lithium carbonate, 2400 tons of industrial-grade lithium carbonate and 156000 tons of potassium chloride per year.
Tibet Mining said that the Zabuye project adopts the technical route of salt pan evaporation + membrane separation technology + crystallization evaporation technology to extract lithium, which does not produce toxic and harmful three wastes in the process, does not introduce any impurity ions, and does not have a negative impact on the salt lake. However, Zabuye Salt Lake has a proven lithium reserve of 1.841 million tons, ranking second in the world in terms of lithium grade. Due to the easy formation of natural lithium carbonate deposition, the cost is 20% lower than that of other salt lakes in China, and the extraction price is about 50%-70% lower than that of lithium ore. According to the 1/3 recoverable ratio, the potential value of the resource is 150 billion yuan.
The company intends to raise funds for the project through private placement, bank financing and its own capital investment, of which it plans to raise 7-1.2 billion yuan from the issuance.
The subject company, Tibet Xigaze Zabuye Lithium High-Tech Co., Ltd., is a branch of Tibet Mining, and its top three shareholders are Tibet Mining, Tianqi Lithium and BYD, accounting for 50.72 per cent, 20.00 per cent and 18.00 per cent of the shares, respectively.
Take the new energy industry "express"
Investing in the Zabuye project is not only a step for Tibet Mining to expand its new business, but also a step for the company to take the "express train" of the new energy industry.
With the continuous growth of the new energy vehicle market, lithium materials in the upper reaches of the industry also show a high degree of prosperity, superimposed lithium ore raw materials are tight, lithium salt prices have risen considerably in the past year. As of September 3, 2021, the price of battery-grade lithium carbonate was 121200 yuan per ton, up 140 percent from the beginning of the year, while the price of battery-grade lithium hydroxide was 123000 yuan per ton, up 150 percent from the beginning of the year.
In the first half of 2021, the overall performance of listed companies in the lithium carbonate sector was excellent, benefiting from the rise in the price of lithium materials. Everbright Securities research report shows that in the first half of 2021, the overall total operating income of listed companies in the lithium carbonate sector was 31.86 billion yuan, an increase of 21.60 percent over the same period last year; net profit attributable to the parent company achieved a total of 6.398 billion yuan, an increase of 362.14 percent over the same period last year.
Tibet Mining said that the Zabuye project has strong market competitiveness and will bring new revenue to the company and form a new profit growth point.
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