On March 4, Yongxing New Energy's fully-owned subsidiary Jiangxi Yongxing Tegang New Energy Technology Co., Ltd. staged construction commencement/completion ceremony for major projects in Q1 2021.

After its 10,000tpy battery-grade lithium carbonate project successfully achieves full-capacity operation, the company invested another RMB1.125 billion (USD0.17 billion) into constructing stage-two 20,000tpy battery-grade lithium carbonate production and auxiliary mining, beneficiation and comprehensive project.

When stage two project is constructed, the company will have a total 30,000tpy battery-grade lithium carbonate production capacity and raw material supply capacity, which will be crucial in consolidating its leading role in the mica lithium industry.