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Tianhua New Energy has successfully concluded an investment agreement with the Kebbi State Government of Nigeria and Sanguan Mining for the exploration and development of lithium resources in the region. The agreement outlines a substantial investment of over US$200 million by Tianhua New Energy in Kebbi State, aimed at establishing a comprehensive lithium mining, beneficiation, and tailings disposal facility. Tianhua New Energy will maintain an 85% equity stake in the joint venture, assuming primary responsibility for the management and operational aspects of the plant.
This milestone agreement has been duly ratified by the board of directors of Tianhua New Energy, underscoring the company's commitment to the project. It is worth noting that the final investment figure and project scope may undergo adjustments based on the findings of an upcoming feasibility study report.
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