China Nuclear Titanium Dioxide intends to invest in Jintai Potash

On November 29, China National Nuclear Titanium Dioxide announced that the company and Jintai Potash, Li Shiwen and Fukang Mining have signed the "Agreement on Capital Increase of Qinghai Jintai Potash Co.

According to the relevant capital increase agreement, CNNC Titanium Dioxide intends to increase the capital of Jintai Potash by 200 million yuan with its own funds, of which 8.

According to the relevant purchase and sales cooperation agreement, Jintai Potash Fertilizer, Li Shiwen and Fukang Mining pledged to sell at least 20% of the total output of lithium products produced by self-produced, cooperatively produced, and commissioned products, and 20% of the brine raw materials to be directly sold to China National Nuclear Corporation every year Titanium dioxide, and since January 1, 2023, the lithium products promised by Jintai Potash to China Nuclear Titanium Dioxide will be converted into lithium carbonate equivalent of not less than 2000 tons/year

According to the data, Jintai's potash mining and production area is located in Balunmahai Lake, Lenghu, Haixi Prefecture, Qinghai Province.

CNNC Titanium Dioxide stated that the capital increase of Jintai Potash will bring the company a stable supply of lithium carbonate products, which will help the company and Jintai Potash to share resources and benefits, and promote the long-term sound development of the company