Hainan Mining lithium hydroxide project started construction within the year

Recently, Hainan Mining announced that its wholly-owned subsidiary, Hainan Xingzhihai New Materials Co.
, Ltd.
, won the C3-04-02-01 plot in Danzhou City, Hainan Province, and signed a confirmation of
the right to use the construction land with the Danzhou Municipal Bureau of Natural Resources and Planning.

According to the announcement, the total investment of the project is about 1.
056 billion yuan, and it is planned to build a 20,000 tons/year lithium hydroxide monohydrate production line, warehouse and supporting public facilities, with a construction period of 18 months, which is expected to be completed and put into operation
in the first quarter of 2024.

Hainan Mining said that Xingzhihai New Materials successfully won the project plot, marking the official landing of the company's 20,000-ton battery-grade lithium hydroxide project (phase I) in Danzhou, which is about to enter the comprehensive construction stage, which has a positive effect
on accelerating the company's construction of the three main tracks of "iron ore + oil and gas + new energy".

It is reported that the main business of Hainan Mining is iron ore mining, processing and sales, oil and gas exploration, development and sales, and bulk commodity trading and processing
.