Source: Eastern Resources
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  • Eastern Resources (EFE) has signed a strategic partnership agreement with Yongxing for the acquisition and development of lepidolite projects in Australia
  • Yongxing is considered one of the most experienced lithium carbonate producers in China, with technology to use lepidolite concentrates to produce battery grade lithium carbonate
  • If a purchase decision is made, the parties will enter a joint venture to develop the project
  • Eastern Resources Chairman Eddie King says this partnership is “another significant event for the company”
  • EFE is up 4.35 per cent, trading at 4.8 cents at 12:00 pm AEST

Eastern Resources (EFE) has signed a strategic partnership agreement with Yongxing Special Materials Technology Co.

The agreement will see Eastern Resources as the exclusive partner of Yongxing for the purchase and development of lepidolite projects in Australia.

Yongxing is considered one of the most experiences lithium carbonate producers in China, with technology to use lepidolite concentrates to produce battery grade lithium carbonate.

Both parties have recognised the growing demand for lithium products, and as such have decided to work together on the identification, acquisition and development of lepidolite projects in Australia.

If a decision is made to complete a purchase, the parties will enter a joint venture for the acquisition and development of the project.

“We are extremely pleased to sign this partnership agreement with Eastern Resources, a company with an experienced team in developing mining projects in Australia,” Yongxing Chairman Xingjiang Gao said.

“As two companies committed to acquiring and developing lepidolite projects, we are excited about the many advantages such a partnership can bring to developing those projects into production as we expect.”

Eastern Resources Chairman Eddie King said this partnership is “another significant event for the company.”

“To complement the existing agreement with Yahua, the strategic partnership agreement provides the company with a strategic advantage to acquire and develop lepidolite projects. This further strengthens our position in aspiring to provide green energy solutions for future generations,” Eddie King said.

Both companies wish to establish a long-term strategic partnership for the potential supply of lepidolite concentrates.

Eastern Resources was up 4.35 per cent, trading at 4.8 cents at 12:00pm AEST.

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