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Deep Source Enters Spodumene Purchase, Processing Agreements With Dazhong Mining Unit

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Deep Source (HKG:0990) has entered into parallel spodumene ore purchase and processing agreements with Anhui Dazhong New Energy Investment, according to a Friday filing with the Hong Kong bourse.

The firm pre-locked the purchase of 150,000 tons of spodumene ore in China for 345 million yuan, though the amount shall be subject to the actual transaction confirmation, Deep Source said.

Anhui Dazhong New Energy also agreed to process a similar amount of spodumene ore for the company at a rate of 18 million yuan, Deep Source said.

Anhui Dazhong New Energy is a unit of Dazhong Mining (SHE:001203).

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