Tibet Summit Resources Co.Ltd(600338) (registered address: No. 65, middle Beijing Road, Chengguan District, Lhasa, Tibet Autonomous Region)
Non public offering of a shares
Feasibility analysis report on the use of raised funds
(first revision in January 2022)
January 2002
1、 Investment plan of the raised funds
Tibet Summit Resources Co.Ltd(600338) (hereinafter referred to as “the company”) intends to raise no more than 800 million yuan (inclusive) in the total amount of funds for non-public offering of shares. The raised funds are intended to be used for the investment of the following projects after deducting the issuance expenses:
Unit: 10000 yuan
No. project name total investment amount of the project proposed investment amount of raised funds
1 Argentina lithium potassium Co., Ltd. annual output of 50000 tons of lithium carbonate 449740.99 385000.00 lake lithium extraction construction project
2. 6000kt / a mining, dressing, reconstruction and expansion project of Tazhong Mining Co., Ltd. 251437.01 205000.00
3 lithium salt lake resource exploration project of Argentina Tosa Co., Ltd. 10151.69 10000.00
4. Supplementary working capital 200000.00 200000.00
Total 911329.69 800000.00
Note: the investment amount of the above projects is converted according to the exchange rate used in the feasibility study report of relevant projects.
If the actual net amount of funds raised in this non-public offering is less than the investment amount of funds raised in the above projects, the company will adjust and finally determine the specific investment projects, priorities and specific investment amount of each project according to the actual net amount of funds raised and the priorities of the projects, The insufficient part of the raised funds shall be solved by the company with its own funds or by other means.
In order to ensure the smooth progress of the investment projects with raised funds and protect the interests of all shareholders of the company, before the funds raised in this non-public offering are in place, the company can invest in advance with self raised funds according to the actual situation of the corresponding project progress, and replace them after the raised funds are in place.
2、 Basic information of the project invested by the raised funds
(I) lithium extraction project of Argentina lithium potassium Co., Ltd. with an annual output of 50000 tons of lithium carbonate salt lake
1. Project overview
The project is planned to be constructed in anheles lithium salt lake, Salta Province, Argentine Republic, with a total investment of 4497.4099 million yuan and a construction period of 12 months. The project plans to adopt China’s latest salt lake lithium extraction production process, build a new lithium carbonate production base, and introduce first-class production equipment and supporting equipment. The goal is to build an environment-friendly large-scale brine lithium mine project. After the completion of the project, the company will realize the large-scale development of lithium resources, accelerate the company’s layout in the upstream field of new energy, improve the company’s industry status and sustainable development ability, strive to expand and strengthen the lithium industry in the golden age of lithium industry development, and build the company into a lithium salt supplier with global influence.
2. Project investment estimate
The investment estimation of the project is as follows:
Unit: 10000 yuan
No. project or cost name investment amount in total investment proportion
1. Construction cost 421564.99 93.74%
1.1 project cost 371624.95 82.63%
1.2 other expenses of project construction 15131.92 3.36%
1.3 project reserve 34808.12 7.74%
2. Interest during construction period 7464.41 1.66%
3. Working capital 20711.59 4.61%
The total investment of the project is 449740.99 100.00%
3. Necessity and feasibility of project construction
(1) The technology of lithium extraction from Salt Lake is gradually becoming mature and applied
The world is rich in lithium resources and lithium reserves. According to the data of the United States Geological Survey (USGS) in 2020, the global lithium resources are about 86 million tons, of which the sum of lithium resources in the “lithium triangle” region of South America (high-altitude lakes and salt marshes at the junction of Chile, Argentina and Bolivia) accounts for nearly 60% of the total global lithium resources. South America is rich in lithium resources. The main type is salt lake brine, which is mainly concentrated at the junction of the three countries. Due to the unique topographic structure and arid climate, salt lakes are densely distributed, with less precipitation and large evaporation. It is a natural high-quality lithium brine production area. Salt lake brine has large lithium reserves and strong industrial development value. It is also the key direction of lithium mine development at present. There are various technologies for extracting lithium from Salt Lake, including carbonate precipitation method, adsorption method, electrodialysis, membrane method, calcination method, extraction method, etc. Through long-term technical iteration, process running in and continuous investment, Chinese enterprises have matured the lithium extraction capacity of Salt Lake and led the world in the technical level.
(2) Anheles lithium salt lake has high-quality resource reserves
The mining right area of the company in anheles Salt Lake is 10533.84 hectares, which is composed of 39 mining concessions. Anheles Salt Lake is mainly composed of intercrystalline brine, which is rich in lithium, boron and potassium. According to the lithology of the aquifer, it can be divided into three brine deposits from top to bottom.
The main beneficial components in brine are lithium, potassium and boron in ionic state
Presence. According to Sal de Los Angeles project report on updated lithium and potassium resources issued by flosolutions on August 1, 2018, which meets the ni43-101 standard, the lithium metal resource reserve of anhelis Salt Lake is 385000 tons and the equivalent lithium carbonate resource reserve is 2050000 tons, The average concentration of the whole deposit is 490mg / L, of which the total proved and controlled lithium metal resource reserves are 307535 tons, the equivalent lithium carbonate resource reserves are 1.64 million tons, and the average concentration is 479 mg / L.
(3) Mature lithium extraction process is applied in this project
The resources of anheles Salt Lake mining area are mainly stored in deep brine. According to the horizontal and vertical changes of brine distribution in the mining area, taking into account the factors such as brine transmission, auxiliary engineering layout and production replacement, as well as the requirements of the local government for environmental protection, the brine mining mode is well mining, so as to ensure the continuous and stable demand for raw brine of the project. Based on the principle of safety, maturity and advancement, the project adopts adsorption + membrane process to produce lithium carbonate. The preliminary separation of magnesium and lithium is completed by selectively adsorbing lithium in high magnesium and low lithium brine with lithium adsorbent. Lithium in brine is adsorbed and extracted with lithium adsorbent with excellent performance. The adsorbent can eliminate the interference of a large number of coexisting alkali metal and alkaline earth metal ions in brine and selectively adsorb lithium ions in brine; The adsorbent has stable adsorption / desorption performance, is suitable for large-scale operation, has simple preparation method and no pollution to the environment.
(4) Anheles lithium salt lake lithium extraction project is in line with the company’s long-term strategy in Argentina
The company owns anheles lithium salt lake project and arizaro lithium salt lake project in Argentina. Through the continuous development of Argentina lithium salt lake project, it will play an important role in ensuring China’s lithium resource demand in the future. The company has implemented 50000 tons of lithium carbonate / year raw brine lithium extraction project in anheles lithium salt lake, which can accumulate rich project construction and operation experience, so as to lay a solid foundation for the implementation of larger-scale lithium extraction project in arizaro lithium salt lake in the future.
4. Economic benefit analysis
According to the feasibility study report on the lithium extraction construction project of Argentina lithium potassium Co., Ltd. with an annual output of 50000 tons of lithium carbonate salt lake prepared by Changsha Nonferrous Metallurgy Design and Research Institute Co., Ltd., the project is expected to have good economic benefits after the construction is completed and all are put into operation. According to the exchange rate used in the feasibility study report (US $1 = RMB 6.38), the operating income after the project is reached is RMB 4520277100 / year; The total cost is 137.14391 million yuan / year, of which the operating cost is 97.19698 million yuan / year; Realized net profit 194181.42
5. Project approval document
Up to now, relevant administrative licensing procedures at home and abroad have not been completed for the project.
(II) 6000kt / a mining and dressing reconstruction and expansion project of Tazhong Mining Co., Ltd
1. Project overview
The project is located in Arden topkan mining area northeast of Dushanbe, the capital of the Republic of Tajikistan, with a total investment of 2514370100 yuan and a construction period of 24 months. Tazhong mining has continuously resumed the construction, reconstruction and expansion of Pai Bulak mine, Arden topkan lead zinc mine and North Arden topkan lead zinc mine, as well as the production in recent years. The three mines have formed perfect mining and beneficiation facilities, and the production scale has been close to 4 million tons / year by the end of 2019. The scope of the reconstruction and expansion project includes Pai Bulak mine, Arden topkan lead-zinc mine, North Arden topkan lead-zinc mine, chalata mining area, bayarbuick mining area, bereval mining area and uzkatre mining area. The mining and beneficiation scale is increased from the original 4 million T / A to 6 million T / A.
2. Project investment estimate
The investment estimation of the project is as follows:
Unit: 10000 yuan
No. project or cost name investment amount in total investment proportion
1. Construction investment 233117.63 92.71%
1.1 project cost 174836.42 69.53%
1.2 other expenses of project construction 20048.47 7.97%
1.3 basic reserve fund 27992.38 11.13%
1.4 exploration expenses 10240.35 4.07%
2. Interest during construction period 6057.33 2.41%
3. Working capital 12262.06 4.88%
Total project investment 251437.01 100.00%
3. Necessity and feasibility of project construction
(1) taone mining is a “one belt, one road” economic and trade cooperation benchmarking enterprise.
As a model project under the economic and trade cooperation framework of the Shanghai Cooperation Organization, Tajikistan China mining is one of the pillar enterprises in Tajikistan. Since its establishment, it has paid nearly 3 billion somoni of various taxes. In 2015-2019, it ranked first in taxes for five consecutive years, directly and indirectly solving the employment of nearly 10000 people in Tajikistan and making outstanding contributions to the economic development of Tajikistan, Become a “one belt, one road” economic and trade benchmarking enterprise awarded by the relevant ministries and commissions of the State Council, and won the “special contribution award of Tazhong friendship”. Tazhong mining has always attached importance to the social responsibility contribution of the host country and location. It has donated more than 100 million yuan in Tajikistan to give back to the local government and residents by donating schools and hospitals, building roads, reservoirs, electricity and other public utilities. One belt, one road project, is being invested in Tajikistan. It will invest 6 million tons of mining and upgrading projects in the Tazhong mining area. It will not only achieve good economic results, but also boost the local economic development.
(2) The project site is rich in mineral resources
The project is located in Arden topkan mining area in Tajikistan. Alden
