African mining circle news: China Mining Resources said on the interactive platform on July 20, The company's "Bikita lithium mine 2 million tons/year (translitspar) renovation and expansion project" and "Bikita lithium Mine 2 million tons/year (spodumene) construction project" were completed and officially put into trial production on July 6, 2023 and July 7, 2023 local time in Zimbabwe, respectively, and are currently in the commissioning and climbing period.
After the completion of the two projects, the annual output is expected to be 300,000 tons of chemical grade diatherite concentrate and 300,000 tons of spodumene concentrate.
Last year, Zimbabwe banned the export of unprocessed lithium ore to stop artisanal miners from mining and mineral smuggling, and ordered that only lithium concentrate should be exported. The lithium concentrate produced by the company is continuously shipped to China after completing the export declaration.
China Mining Resources said on the interactive platform on July 20 that the Namibe lithium project is a exploration right, which is still in the initial exploration stage, and the specific resource amount/reserves need further work to determine.
The Namibe lithium project will not have a material impact on the company's results for the next two years.
According to the progress of the subsequent cooperation between the two parties, the Company will timely fulfill the corresponding decision-making procedures and information disclosure obligations in accordance with the relevant provisions of the Shenzhen Stock Exchange Listing Rules and the Articles of Association.
In May 2023, Tyranna announced that it had signed conditional subscription agreements with China Minerals Resources Group Limited and China Minerals International Exploration (Hong Kong) Limited. China Minerals Resources invested more than A $31 million in two phases to explore and develop the Namibe Lithium project in Angola (Subscription Agreement).
