FINWIRES · TerminalLIVE
FINWIRES

Canmax Technologies Unit to Merge Two Lithium Mines; Shares Down 5%

By

Canmax Technologies (SHE:300390) holding subsidiary Shengyuan Lithium will consolidate the Jinzifeng lithium mine, valued at 2.69 billion yuan, to Huaqiao Mining in exchange for 50% equity.

The merger integrates the adjacent Jinzifeng and Huashan mines into a single mining right, enabling unified operations and a planned 18-million-ton-per-year mining scale, according to a Tuesday filing with the Shenzhen bourse.

A total of 200 million yuan shall be recorded as Huaqiao Mining's registered capital, and the remaining 2.49 billion yuan shall be recorded as Huaqiao Mining's capital reserve.

Shares of the new energy materials manufacturer declined 5% in recent trade.

Related Articles

Asia

Tetratherix Joint Venture Gets Ethics Approval for Clinical Trial of Hydrogel Spacer in Cancer Treatments

Tetratherix (ASX:TTX) said its Tutelix joint venture received ethics committee approval to launch a clinical trial for hydrogel spacer in Australia, according to a Tuesday filing with the Australian bourse.The Tutelix hydrogel spacer is used during cancer treatments to protect healthy parts of the body from damage.Positive six-month follow-up data confirms an opportunity for the product beyond the prostate cancer program, providing the company with a technical basis to pursue a gynaecological cancer indication, Tetratherix Chief Technology Officer Ali Fathi said.The clinical study has completed enrolment of all 15 patients across multiple Australian sites, per the filing.

ASX:TTX
Asia

Bharat Electronics Bags New Orders Worth INR10.8 Billion

Bharat Electronics (NSE:BEL, BOM:500049) has secured additional orders worth 10.8 billion Indian rupees within one month, according to a filing to the Indian stock exchanges on Monday.Major orders received since May 25 include communication equipment, radars, CBRN protection systems, seekers, avionics, upgrades, spares, and services, among others.

BOM:500049NSE:BEL
Asia

Chasen Secures Solar, EV Contracts in India

Chasen 9 (SGX:5NV) secured around 470 million Indian rupees worth of solar energy and electric vehicle battery contracts in India, according to a Monday filing with the Singapore Exchange.The deals include an electronics manufacturing services contract for specialist relocation services and an integrated solar manufacturing facility contract commissioned at the Reliance Industries' Dhirubhai Ambani Green Energy Giga Complex in Gujarat.

SGX:5NV