Battery magazine today - Chinese battery alliance (Bing Li, reported in Beijing) on November 17, Pengxin global sources co., LTD. (hereinafter referred to as the "company") announced that the company and the Shanghai send new energy technology co., LTD. (hereinafter referred to as the "new energy") has signed a strategic cooperation framework agreement (hereinafter referred to as "this agreement"), the proposed in the field of new energy storage to establish a long-term, comprehensive, stable strategic cooperative relationship.

The announcement said that the company will rely on its existing resource advantages in the field of cobalt mining and processing in the Democratic Republic of Congo (DRC) to guarantee the supply of raw materials for production and provide support for Grenada New Energy. Through friendly consultation, the two sides have agreed to establish a long-term, comprehensive and stable strategic cooperative relationship in the field of new energy storage.

The main contents of the agreement are as follows: (1) Upstream raw material supply: The company agrees to provide 30% of the primary cobalt hydroxide produced by THE DRC SMCO to the cobalt raw material needed for the production of Grenada new energy. The delivery period shall be 5 years from the date of the first cargo bill of lading. Grenada New Energy agrees that the products purchased under this Agreement shall not be sold to any third party, and this agreement shall automatically become null and void upon discovery of any violation of this provision. The parties agree that the price shall be quoted in Metal Bulletin, and the specific pricing method and other purchase and sales terms shall be subject to the final purchase and sales contract separately signed by Party A or its wholly owned subsidiary designated by Party A and Party B. The final purchase and sale contract will be formally signed after the SMCO cobalt hydroxide production line is put into operation. (2) Downstream industrial cooperation: Both parties will carry out cooperation in technology research and development in the field of new energy storage, construction of new product production lines, expansion of production capacity of existing product lines, merger and acquisition and other aspects. The specific cooperation mode shall be subject to the mode agreed in the separate cooperation contract signed by both parties. (3) Before realizing formal cooperation on any project, both parties shall bear the relevant expenses incurred respectively.

The company expresses that the signing of this agreement is in line with the company's strategic development plan, which is conducive to promoting the development of the company's resource industry and in the field of new energy storage and improving the company's industrial layout. The performance of this Agreement shall not have a material impact on the total assets, net assets and net profits of the Company for the time being. If the cooperation can proceed smoothly, it will have a positive impact on the future industrial development of the company.

The main business of Pengxin resources is the mining, smelting and sales of overseas non-ferrous metal mineral resources (copper metal). The company's own Hituru Mining is a production entity integrating mining, smelting and smelting, with an annual cathode copper production capacity of 40,000 tons. The company's core assets are located in the Democratic Republic of Congo (DRC), which is located in the world's most famous Katanga arc copper and cobalt metallogenetic belt. The company has been working deeply in Congo (GOLD) for many years and has the mining right of Hituru Copper mine. By June 2016, Hituru Copper Mine has retained the resources and reserves of 40,053 tons of copper ore and 188,200 tons of copper metal, with an average geological grade of 4.70%. The designed production scale of copper mine is 900,000 tons of ore per year, which reached production in 2014. By August 2017, 151,700 tons of cathode copper has been produced in total. The company's Hituru copper mine technology mature, cathode copper output and recovery rate and other production indicators have reached the design requirements, is the world's advanced level, the products sold by customers as "Africa's best quality cathode copper".

The company is committed to becoming "the world's leading comprehensive resource service provider", committed to the development of copper, cobalt and other non-ferrous metal mining, metallurgy, sales and bulk non-ferrous metal trade of the whole industrial chain. Through the preparation of a new cobalt hydroxide production line project in SMCO and the investment in Clean TeQ company, the company has established the upstream industry of power battery raw materials. Clean TeQ's Syerston Nickel-cobalt-scandium project is one of the few large nickel-cobalt deposits that can reach mass production. In addition, the company has invested in Chongqing Huatc to lay out new carbon materials (graphene, carbon fiber, etc.).

In terms of mineral resources merger and acquisition, the company purchased 16.17% shares of CLean Teq, an Australian-listed company, through capital increase in the first half of 2017. Clean TeQ's Syerston Nickel-cobalt-scandium project is the world's largest scandium project and one of the nickel-cobalt deposits with high nickel-cobalt grade. It is also one of the few large nickel-cobalt deposits that can reach mass production except in Africa. Currently, it is actively carrying out the feasibility study of the project.

On September 25, 2017, the company held the ground-breaking ceremony of Pengxin SMCO Cobalt project and the establishment ceremony of DRC Cobalt ore Trading Center.

On October 27, the company published the Report of Issuing Shares, Paying Cash to Purchase assets and Raising supporting funds and Related Transactions, proposing to acquire 100% equity of Ningbo Tianhong at the price of 1.909 billion yuan, and then indirectly gain the control right of CAPM(Central African Precious Metals Company), whose core asset is aoni Gold Mine in South Africa. After the completion of this transaction, Onil Gold Mine will be operated and managed by Pengxin Resources. According to the Feasibility Study report of Aoni Gold Mine in South Africa issued by China International Engineering Consulting Co., aoni gold mine is expected to start production in 2018 and reach production in 2022. After the completion of this transaction, the company's new gold metal business, which is conducive to change the company's current non-ferrous metal resource structure is relatively simple situation, effectively enrich the company's industrial production business plate. On November 17, peng xin global sources co., LTD. (hereinafter referred to as the "company") announced that the company and the Shanghai send new energy technology co., LTD. (hereinafter referred to as the "pie" new energy ") has signed a strategic cooperation framework agreement (hereinafter referred to as "this agreement"), the proposed in the field of new energy storage to establish a long-term, comprehensive, stable strategic cooperative relationship.

(Responsible editor: Left and Right)

Source: China Battery Alliance

Author: lolita