Thought this would be of interest to many NZC shareholders.
our second largest holder who has a board rep and been doing site visits now in a solid JV with LG Chem. From @mineralised numbers it seems that NZC could supply Huayou 40% of their Cobalt for the next ten years, this is without further drilling etc.
The ducks are starting to line up quite well for Nzuri. Article on the JV below
"Huayou Cobalt Industry Joins Hands with LG Chemical for Positive Electrode Materials
April 11, 2018 06:41
Author: Tan Peru
source:Shanghai Securities News
Huayou Cobalt IndustryIt was announced today that on April 10th, the company’s wholly-owned subsidiary, Huayou New Energy, signed an agreement with LG Chem, and the two parties were jointly established to establish Huajin New Energy Materials (Zhangzhou) and Leyou New Energy Materials (Wuxi) to produce lithium battery ternaries. Precursors and cathode materials. LG Chemicals is a subsidiary of LG and one of the world's leading battery suppliers.
According to the disclosure, Huajin has a total investment of 1 billion yuan, of which Huayou New Energy holds 51% of the shares, and will mainly be engaged in the production, sales, and related supporting services of precursors. The first-phase production scale is 40,000 tons/year ago, and its According to the market situation, it will be expanded to 100,000 tons; Leyou New Energy will invest 3 billion yuan; Huayou New Energy will occupy 49% of the shares. The scope of business will be the production, sales, and related supporting services of cathode materials, with a scale of 40,000. Ton/year cathode material can be expanded to 100,000 tons as needed.
The announcement said that the joint venture with LG Chemicals to establish a lithium battery new energy materials business will effectively integrate the company's and LG Chem's technological and market channel advantages in ternary precursors, ternary cathode materials, and automotive lithium-ion power batteries. To jointly build an internationally competitive lithium new energy material industry chain.
Huayou Cobalt Industry Co., Ltd. is one of the largest suppliers of cobalt materials in China. As the price of cobalt continues to increase, the profitable Huayou Cobalt industry has actively expanded. In March this year, the company disclosed that it plans to invest 6.37 billion yuan. Construct a 150,000-ton lithium-powered ternary precursor new material project for the New Year.
NZC Price at posting:
35.0¢ Sentiment: Buy Disclosure: Held
