Since 2022, the new energy automobile industry has developed vigorously, driving the price of lithium carbonate, the upstream raw material, to rise. Many nonferrous metal mining enterprises have seized the market opportunity to enter the lithium battery industry. On October 19, Inner Mongolia Dazhong Mining Co., Ltd. announced that the company planned to sign a Memorandum of Cooperation with the People's Government of Linwu County, Chenzhou, Hunan Province. The company and downstream enterprises planned to invest in the construction of lithium containing polymetallic open-pit mining, lithium carbonate and battery projects in Linwu County, with an estimated total investment of 16 billion yuan.

Dazhong Mining plans to pay a performance bond of 1 billion yuan for the company's project expenditure in Linwu County, and has agreed in the Memorandum of Cooperation that the reserves, grades and development conditions of lithium ore resources in the target area can meet the company's investment standards (the average cut-off grade of lithium oxide is not less than 0.3%, open pit mining, and the annual mining and processing capacity is not less than 40000 tons of lithium carbonate), If so, both parties will sign a formal cooperation agreement within one month. Dazhong Mining was established in October 1999. On May 10, 2021, the company successfully landed on the main board of Shenzhen Stock Exchange, focusing on iron ore mining and beneficiation. It has two major mining bases in Inner Mongolia and Anhui, with a total iron ore reserves of 522 million tons. It is a large-scale iron ore mining and beneficiation enterprise in China.

Dazhong Mining said that since its listing, the company has been paying attention to the development opportunities of decarbonized new materials and new energy industries, actively layout new energy business areas, and achieve strategic resource reserves. At present, the global new energy industry is developing rapidly, and lithium mine is the core demand for the development of new energy industry.

Dazhong Mining said that the layout of lithium carbonate and battery fields also stems from its own technological advantages and resource advantages. The announcement said that the mineral processing of lithium mica ore in Linwu County is mainly based on mica processing, and the technology is similar to that of Jinrisheng Mining Co., Ltd; The key to producing lithium carbonate from mica concentrate is the rotary kiln roasting process, which is similar to the existing pelletizing rotary kiln process of the company. The company has technical advantages in the open-pit mining, beneficiation and lithium carbonate processing of lithium bearing polymetallic ores. In addition, the stable growth of the performance of large and medium-sized mining companies in the past two years has also provided a guarantee for the company's business expansion. In 2021, large and medium-sized mining companies will achieve a revenue of 4.895 billion yuan, a year-on-year increase of 96.05%, and a net profit attributable to the parent company of 1.625 billion yuan, a year-on-year increase of 174.47%; In the first half of this year, the revenue reached 2.674 billion yuan, up 16.59% year on year; The net profit attributable to the parent company was 753 million yuan.

For this cooperation, Dazhong Mining said that it would make full use of the rich lithium mineral resources in Linwu County, actively layout the new energy industry, further improve the company's core competitiveness and profitability, and also help the listed companies and local governments achieve the goal of complementary advantages, mutual benefit and common development. Keywords: new energy, engineering news

Jibang Lithium noted that currently, large and medium-sized mining companies have established subsidiaries in Hunan. Tianyancha information shows that Hunan Dazhonghe Mining Co., Ltd., 100% controlled by Dazhong Mining, was established on October 14. The legal representative of Hunan Dazhonghe Mining Co., Ltd. is Niu Guofeng, with a registered capital of 480 million yuan. Its business scope includes smelting of common non-ferrous metals, basic geological exploration, production of battery spare parts and sales of battery spare parts.Editor/Xing Wentao