Glonghui, December 26 | Huati Technology (603679.SH) announced that it plans to subscribe for Mozambique KYUSHU RESOURCES, SA (a company registered under the laws of the Republic of Mozambique, “Kyushu Resources Company” for short) through its holding subsidiary Huati International Energy (Hainan) Co., Ltd. (“Huati International Energy”) to add a registered capital of 570000.00MT (Mozambican metical, Mozambican legal tender). After the capital increase is completed, the registered capital of Kyushu Resources It was changed to 670000.00MT, of which Huati International Energy's shareholding ratio was 85%.
Kyushu Resources is a wholly-owned foreign-owned company registered in Mozambique. It is responsible for operating lithium mine-related projects in Mozambique and owns 100% interest in the 11682 lithium mine in Mozambique. According to the “Mozambique 11682 Project Feasibility Study Report” issued by Jingxiu Engineering Consulting Co., Ltd., the 11682 project mining area contains a total of 25 pegmatites, with an estimated 333Li20 ore volume of 5.202,000 tons, with an average grade of Li 200.76%; 334Li20 long-term ore volume of 1.246,600 tons, with an average grade of Li 200.91%; 333+334 combined ore resources of 6.442,800 tons. Since Ta205 and Nb205 analysis results were not available, there was no estimate for this part of the resource amount.
