Huayou Cobalt bets on Arcadia Lithium Mine

CHINESE high tech enterprise, Huayou Cobalt (Huayou) is placing significant emphasis on its  Arcadia Lithium Mine, as it progresses with a lithium sulfate project expected to lower production costs.

Huayou bought Arcadia Lithium Mine from Australian miner, Prospect Resources Ltd back in 2022 for US$378 million.

Huayou, a Chinese producer of cobalt, nickel, and lithium materials used predominantly in lithium-ion batteries, has since identified Arcadia as a strategic project.

This story is for NewsDay subscribers.