Jiayou International (603871.SH) Signs Burundi Spodumene Mine Cooperation Agreement

Stock News

Sep 24

Jiayou International (603871.SH) has announced that the company, together with SONALEK MINING COMPANY LTD and SUNTIAL HK LIMITED, recently signed a cooperation agreement for the Burundi spodumene mine.

SONALEK MINING COMPANY LTD is Burundi's national mining company and legally holds the qualifications related to mining, production, and export of the SONALEK spodumene mine in Burundi. SUNTIAL HK LIMITED is the mine operator, responsible for mine development and operations.

The Burundi lithium mine and the Manono mining area in the Democratic Republic of the Congo both belong to the East African Great Lakes pegmatite metallogenic domain, with similar resource endowments and more favorable regional location conditions, indicating considerable potential for development and conversion.

This cooperation is an important step for the company to implement its Africa strategy and deepen its overseas mineral supply chain layout.

The company has already established a supply chain trade business model centered on logistics in the China-Mongolia region. The signing of this agreement marks the company's optimization and replication of this business model in the African market, successfully building an integrated logistics-trade service system in Burundi, further improving its African business footprint, consolidating its overseas operating foundation, and significantly enhancing its comprehensive service competitiveness in mine supply chains in the East African Great Lakes region.

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