On November 16, Jianruiwoeng signed a subscription and cooperation agreement with Altura Mining in Australia in Beijing. The company will hold 19.9% of Altura's shares and become the largest shareholder of Altura Mining.
Guo Hongbao, Chairman of Jianrui Woeng Energy, said that Altura Mining's flagship project is the world-class Pilgangoora hard rock lithium mine project in the Pilbara region of Western Australia. Construction of the mine is planned to begin in the first quarter of 2017, and trial operation and production are expected to begin in the fourth quarter of 2017. He pointed out that the acquisition of international lithium giants will better ensure the supply of raw materials and strengthen the control of Jianruiwo's upstream lithium resources.
Benefiting from the influence of national policies, China ’s pure electric vehicles have grown significantly. According to the latest statistics from the Ministry of Industry and Information Technology, the output of new energy vehicles in 2015 reached 340,000, which is four times the output of 2014. From January to October 2016, the production and sales of pure electric vehicles were 276,000 and 258,000, respectively, an increase of 98.1% and 102.5% over the same period of the previous year. The acceleration of new energy vehicles is driving the growth of power batteries. At the same time, with the outbreak of the downstream power and energy storage market, China ’s lithium-ion battery industry is embracing huge room for growth.
The rapid growth of demand for power batteries has led to a serious shortage of upstream materials for power batteries, especially core raw materials, such as lithium carbonate. The shortage of upstream raw materials for lithium batteries is becoming a major constraint for the development of new energy industries.
Li Yao, general manager of Jianrui Wengeng said, "The new energy vehicle industry will be the strategic focus of the development of Jianrui Wengeng in the future. Today, it is only a small step in the new energy vehicle industry chain. More areas of the energy vehicle industry will be extended. "