TechInAfrica – Montero Mining and Exploration Ltd, a mineral exploration and development company, has signed a non-binding MoU with the Jiang Xi Yun Lithium Materials Company Limited. Both have agreed to collaborate in developing production of lithium in Africa. The MoU is also including ongoing discussions and technical investigations by an expert from both Montero and Jiang Xi Yun’s team.
Jiang Xi Yun Lithium agrees on supporting Montero Mining financially and providing the beneficiation technology while Montero Mining supplies Jiang Xi Yun with lithium production from Africa. At the same time, Montero also has an opportunity to invest in Jiang Xi Yun Lithium upstream beneficiation plant, lithium carbonate, and lithium hydroxide facilities in China.
Tony Harwood, the President and CEO of Montero Mining and Exploration remarked: “Jiang Xi Yun is an ideal fit to Montero Mining in order to meet our goal to be a lithium producer. Jiang Xi Yun has a record in supplying battery grade lithium products to the electric vehicle market in China. Moreover, it has also made a remarkable investment in the development of lithium refining facilities in China. As it is written on our MoU, we will keep this view as our major focus in order to become the main supplier of lithium in the future.”
For the record, Montero Mining is running 3 lithium exploration and development projects in Namibia. These programs aim to obtain NI 43-101 compliant resources and the exploration of additional lithium targets in the country.
Jiang Xi Yun offers to process and manufacture lithium carbonate and lithium iron phosphate products for the Chinese battery market. Furthermore, it also provides non-ferrous metal materials, cobalt, nickel, copper, and aluminum recycling, processing, as well as marketing services. The annual production of lithium carbonate produced by Jiang Xi Yun is around 20,000 tons. It is targeting 40,000 tons by the year 2020. The company is 23% owned by Guangzhou Tinci Materials Technology—a Chinese manufacturing company.