Friday, July 12, 2024

Chinese company Huati Lighting Technology to invest 3 million dollars in lithium mining project in Zambezia

The Chinese company Huati Lighting Technology announced on Wednesday, December 27, that it intends to invest a total of 3 million dollars in the purchase of a stake in the lithium mine located in the district of Gilé, in the province of Zambézia, in central Mozambique.

“Huati Lighting will acquire 85% of the lithium mine belonging to Kyushu Resources, which was created in August and which holds exploration right no. 116 82. 3 million dollars will be invested to buy a controlling stake in the company,” said the entity quoted on the Yicai Global website.

According to the information, in the first phase, “Huati Lighting will start extracting minerals on its own or with the help of professional third parties. The company will ship the processed lithium concentrates through the port of Nacala, some 350 kilometers away, to Shanghai.”

The likely investment in fixed assets and working capital for the project will be up to 10 million dollars.

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