Guocheng Mining Co., Ltd. announced on July 17 that its holding subsidiary, Sichuan Guocheng Lithium Co., Ltd., has entered into a tolling agreement with Tianjin Guocheng Trading Co., Ltd., a wholly-owned subsidiary of the company's controlling shareholder, Guocheng Holding Group Co., Ltd.
Under the contract, Guocheng Lithium will process lithium spodumene concentrate supplied by Tianjin Guocheng into delivery-grade battery-grade lithium carbonate that meets the quality standards of the Guangzhou Futures Exchange. Tianjin Guocheng will pay processing fees to Guocheng Lithium at market-based rates.
The agreement covers approximately 48,000 tons of lithium spodumene concentrate (on a dry and 6% Li2O equivalent basis), with the actual quantity to be processed subject to the final delivery volume from Tianjin Guocheng. The final finished product volume delivered by Guocheng Lithium and the corresponding processing fee amount will be determined based on settlement statements duly signed and sealed by both parties.
