On the evening of December 15, Zhejiang Huayou Cobalt Co., Ltd. (603799.SH) announced that Huayou International Mining, a wholly-owned subsidiary of the company, and Summit Reward, Triprosper Investment Limited (hereinafter referred to as "Sansheng Company") and Lucky Resources signed the Cooperation Agreement, and Huayou International intends to acquire 25,500 shares of Lucky Resources held by Summit Reward for US $ 66.3 million, accounting for 51% of Lucky Resources' total share capital.
According to the announcement, Lucky Resources owns 100% equity of NEW MINERALS INVESTMENT SARL (hereinafter referred to as "NMI", registered in the Democratic Republic of the Congo), and NMI holds Congo (Gold) No. 13235 mining license through lease.
Huayou Cobalt stated that the foreign investment is an arrangement made by the company in accordance with its medium and long-term development strategy. The company's development strategy during the "Thirteenth Five-Year Plan" period focuses on the lithium battery new energy material industry as a core business for key development, and adheres to the transformation and upgrading of "upholding resources, expanding the market, and improving capacity." The company will further increase investment, promote African resource development strategy, strengthen upstream resource layout, strengthen the resource reserve required for lithium battery new energy materials, and provide reliable resource guarantee for the development of lithium battery new energy materials business.