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Sinomine successfully acquired the Cabot (US) Specialty Fluids Business Department

Addtime:2019-07-24 10:01:00


          Sinomine successfully acquired the Cabot (US) Specialty Fluids Business Department

          Complete the strategic layout of the lithium Cesium Rubidium light and rare metal industry

On June 28, Sinomine (Hong Kong) Rare Metals Resources Co., Ltd., a wholly-owned subsidiary of Sinomine Resources Group Co., Ltd. (hereinafter referred to as “Sinomine”), acquired Cabot’s subsidiary Cabot GB for US$134.7 million. The assets and equity closing of 100% of the shares of Tanco, CSF Inc and CSF Limited held by Cabot G.B Corporation has been fully completed. After this transaction, Sinomine has become the world's largest pollucite mining enterprise and the world's largest producer and supplier of cesium products.

Through this acquisition, Sinomine has developed a mature and stable pollucite mine, which has available pollucite reserves equivalent to about 29,000 tons of cesium oxide (Cs2O), and has 126 international invention patents for cesium deep processing and application fields. The cesium salt business model will be upgraded to the whole process industrial chain of“mineral exploration + product production + back-end sales”, with operations in Europe, America, Asia, Africa, and won the global well-known oil service enterprises such as Halliburton and Schlumberger, world famous oil and gas enterprises such as Shell, BP and other world-renowned oil and gas enterprises, as well as BASF, Dupont and other global well-known chemical enterprise customer resources. At the same time, it has effectively broadened the raw material supply source of cesium rubidium salt business of Sinomine, and further enhanced the capacity for sustainable development and risk resistance.

Cesium products play an important role in the military, aerospace, chemical, and medical fields. In 2018, cesium resources were listed by the US Department of the Interior as a list of 32 critical minerals that are critical to the US economy and national security. Due to the scarcity of pollucite resources and the high technical barriers of the industry, many enterprises are unable to set foot in. After the completion of this transaction, the processing technology and quality of cesium salt products, especially cesium formate products, controlled by Sinomine represent the international advanced level.

At this point, the “three-step” strategy of Sinomine distribution for lithium cesium rubidium light and rare metal industry has been completed: The first step was to acquire the Australian PSC Enterprise and obtain 280,000 tons of spodumene concentrate (Li2O 6%) and 784,000 tons of petalite concentrate (Li2O 4%) from the Arcadia Lithium Mine in Zimbabwe. The second step was to acquire Jiangxi Dongpeng New Materials Co., Ltd. with RMB 1.8 billion, becoming the main supplier of battery grade lithium fluoride and the largest producer and supplier of cesium rubidium salt in China. The third step was to acquire more than 75% of the world's cesium resources, including the US based Cabot's Tanco pollucite mine and fine cesium chemical processing plant in the United States and the UK's cesium recycling plant for US$134.7 million.

Through the implementation of the “three-step” strategy, Sinomine has quickly achieved the strategic goal of entering, stabilizing and leading the lithium, cesium rubidium light and rare metal industry, and laid the foundation for business expansion in the global market, and the sustained competitiveness has been significantly improved.

         

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