Gelonghui May 3 丨 Hongqiao Group (08137.HK) issued an announcement. On May 3, 2024, the company and Zangge Mining (000408.SZ) signed a non-legally binding technical consulting service memorandum.

The company is currently discussing and reviewing several salt lake lithium extraction projects in South America, and will require professional technical consultants to carry out project analysis and planning.

Zangge Mining has experience in developing lithium salt lakes. Its self-developed process solved the problem of extracting lithium from ultra-low salt lake brine and problems such as excessive boron in salt lake lithium products, greatly improving product quality and reducing product costs. At the same time, Zangge Mining also has extensive experience in the production, sales and technical consulting of battery-grade lithium carbonate. Based on the mutual business interests of both parties, a memorandum of understanding on technical consulting services will be concluded. When conditions are ripe, all details of the specific project will be discussed in detail, and the signing of a formal consulting service agreement shall prevail.