Australia’s Eastern Iron has signed an MoU with China’s Sichuan Yahua Industrial Group for a strategic partnership to acquire and develop lithium projects. The JV will be established prior to the company acquiring a lithium project or on completing an agreed amount of work on a lithium project.
The companies will work in Trigg Hill Lithium Tantalum Project via their joint venture. Eastern Iron has executed a binding agreement to acquire a 100pc interest in the Trigg Hill Project. Through the JV, the companies would work for the supply of spodumene concentrates and the further acquisitions of lithium projects in Australia and other countries, except China, stated Eastern Iron’s press release.
Yahua Group is one of China’s major lithium hydroxide and lithium carbonate producers, with existing annual operations of a 43,000mt refinery for lithium carbonate, lithium hydroxide and other lithium products. The company has annual expansion plans for a further 50,000mt of lithium hydroxide and 1,000mt of lithium metal by 2025.