On November 30, Ganfeng Lithium (002460) issued an announcement that the Board of Directors of the Company has agreed to provide financial assistance to a wholly owned subsidiary, GFL International Co.,Limitied (hereinafter referred to as "Ganfeng International"), for the holding subsidiary, Exar Capital BV (hereinafter referred to as "Exar Capital"), in the amount of up to US $10,000 million, Through Exar Capital, the financial assistance is provided to the controlling subsidiary, Argentina Minera Exar Corporation (" Minera Exar ").Exar Capital has not listed as of the date of disclosure of this announcement. Gan Feng International holds 51% of Exar Capital, and Pumilithium holds 49% of Exar Capital.

The financial support provided by Gan Feng International to Minera Exar through Exar Capital will be used for the development and construction of the Cauchari-Olaroz Lithium Salt Lake Project, with an annual capacity of 40,000 tons of battery-grade lithium carbonate scheduled to go into production in 2021.

Ganfeng Lithium will obtain 76% of the underwriting rights of cauchari-Olaroz Lithium Salt Lake Project to sell 40,000 tons of battery-grade lithium carbonate.

According to Wanlian Securities Research report, The business of Ganfeng Lithium covers the resource development of lithium industry chain, lithium salt processing and lithium battery application, and it is currently at the starting point of a new round of growth.

Crucible materials commonly used in the preparation of lithium battery materials are alumina ceramic crucible with high mechanical strength, high resistivity, high hardness and melting point, excellent chemical stability and other properties.

Article source: Battery Network

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