Changes in Hong Kong stocks | Ganfeng Lithium (01772) is nearly 3% high, the company says the Inner Mongolia Velasto project has been officially approved and approved

The Zhitong Finance App learned that Ganfeng Lithium (01772) opened nearly 3% higher. As of press release, it had risen 2.72% to HK$54.75, with a turnover of HK$140.51 million.

According to the news, on January 5, Ganfeng Lithium replied on the interactive platform that Inner Mongolia Velasto Mining Co., Ltd.'s 2.4 million tons/year lithium and tin polymetallic mine construction project (“Velasto Project” for short) has been officially approved and that mining equipment is entering the market in batches.

According to public information, the overall development plan for the Velastor lithium polymetallic mine in Inner Mongolia is “early open pit mining+continuous transfer to underground mining”. The open pit mining section is planned to be developed in “two phases”. The first phase invested 2 billion yuan to build an 8,000 tons/day (2.4 million tons/year) lithium ore open pit mining project. After completion, the estimated annual output value of the project will exceed 2.3 billion yuan, annual tax revenue of 900 million yuan, and annual net profit of 1.1 billion yuan. The second phase plans to invest 3 billion yuan to build a 10 million tons/year lithium-tin ore open pit mining project. After delivery, the estimated annual output value will exceed 8 billion yuan, generate about 1.4 billion yuan in tax revenue, and 1.6 billion yuan in net profit.