Ganfeng Lithium Industry held the 35th meeting of the Fourth Board of Directors on June 28, 2019. The meeting considered and approved the "Proposal Concerning the Subscription of Partial Equity Interests of Bacanora and Its Lithium Clay Project Company Sonora Involving Mining Rights Investment".
Bacanora is a company listed on the AIM section of the London Stock Exchange, with the London Stock Exchange code BCN; its main business is group holdings and lithium clay resource project management. Its main asset is the lithium clay Sonora project in Mexico.
The Sonora project is a lithium clay lithium extraction project located in Mexico and is currently one of the world's largest lithium resource projects. According to the feasibility study report of the Sonora project, the total lithium resource of the project is about 8.8 million tons of lithium carbonate equivalent. The feature of the lithium extraction process of this project is that it can have the advantages of both ore extraction and salt lake extraction.It can not only complete the lithium extraction process in a short time at a rate similar to that of ore extraction, but also can extract lithium at a cost similar to that of brine. Lower cost to complete lithium extraction.