Exploration and Utilization Scheme of Jiangxi Xikeng Lithium Ore Was Examined and Approved

In early October, an announcement was given on official website of Ministry of Natural Resources: exploration and utilization scheme of Xikeng lithium ore in Yifeng County of Jiangxi Province was examined and approved, and the news was finally announced. According to the announcement, design opencast mining scale of the ore is 3000000 tons/year, underground mining scale of the ore is 600000 tons/year, and mine life is 39 years (including 1 year of infrastructure construction). according to information, filed reserves of the ore after examination: 72932000 tons of ore, and 320401 tons of lithium metal oxide, with the average grade of Li2O being 0.44%. The mining right of Xikeng lithium ore belongs to Jiangte Motor (a listing company), and this mining right boasts the most abundant resources among the 5 ores owned by Jiangte Motor (all with mining rights). According to some practitioners, Xikeng lithium ore might be the critical factor whether Jiangte Motor is able to realize lithium resource self-control. The approval of the exploration and utilization scheme indicates a further step of the ore from prospecting to mining. According to information, for the purpose of undertake and support the transformation from prospecting to mining, in 2022, Jiangte Motor entered into an investment project contract with The People’s Government of Yifeng: the Company will invest RMB 2 billion in Yifeng in the construction of project with dressing capacity of 3000000 tons of lithium ore and annual capacity of 20000 tons of lithium salt.