Finnish Minerals Group(FMG) and wholly-owned subsidiary Finnish Battery Chemicals Oy(Finnish Battery Chemicals Oy), FBC has signed the TERM SHEET of Shareholders' Agreement for Investment in CAM Plant (TERM Letter of Intent) in Beijing and Helsinki respectively. The three parties agreed to set up a joint venture company in Finland in the form of joint investment.
The joint venture will be responsible for the construction and operation of The Dunsun New Materials Industrial Base project in Europe (the "Project In Europe"). In the European project, the company plans to build a production base for high-nickel power lithium cathode material with an annual output of 100,000 tons in The first phase in Finland. The first phase of the first phase is expected to have an annual production capacity of 50,000 tons of high-nickel cathode materials in 2024. The total investment amount of the first phase of the first phase is about 500 million euros (equivalent to about 3.9 billion YUAN, the final investment amount is subject to the conclusion of the feasibility study), and the capital source is self-raised by the company.
