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Zangge Mining Unit Gets Qinghai Filing Notice for Technical Renovation Project; Shares Down 7%

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Zangge Mining (SHE:000408) subsidiary Zangge Lithium has received a government filing notice for a 32-million-yuan technical renovation project at Qarhan Salt Lake in Qinghai, China, according to a Tuesday filing with the Shenzhen bourse.

The project will retrofit the existing 10,000-ton lithium carbonate production line with cyclic adsorption technology, adding 2,000 tons per year of battery-grade lithium carbonate capacity without increasing brine consumption or requiring new land.

Construction will run until December.

Shares of the potassium chloride and lithium carbonate producer were down nearly 7% in recent trade.

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