Xiamen.com (Xiamen Daily reporter Li Xiaoping) Two more Xiamen enterprises have joined forces! Recently, Shengtun Mining announced that it will enter into a strategic partnership agreement with head battery maker Zhongxin Airlines to cooperate in upstream nickel and cobalt materials for battery cathodes. At the same time, it will use its wholly-owned subsidiary, Hongsheng International, as a cornerstone investor to participate in the initial public offering of shares of Sinova in the Stock Exchange, with an investment amount of USD 80 million.

　　Formerly known as AVIC Lithium, China Innovation Aviation is the head manufacturer of new energy power batteries, with its domestic installed capacity of power batteries rising from 0.7GWh to 9.05GWh from 2018 to 2021, with a market share of 5.9% and ranking third. It is understood that Sinova's effective production capacity is 35GWh this year and is expected to be 90GWh next year.

　　According to the agreement, both parties will focus on cooperation in the field of lithium mineral resources, including but not limited to mutual investment, joint investment, supply chain collaboration, joint venture plant construction, etc. The cooperation territory includes but not limited to China, Southeast Asia, South America, Australia, Europe and other countries and regions. According to the agreement, Shengtun Mining shall give priority to guarantee the supply demand of Sinovel, and provide competitive prices against the market, and the agreement is valid for 3 years.

As a "mining family", in recent years, Shengtun Mining has focused on the layout of nickel, cobalt, copper and other metals required for new energy batteries, and has in-production projects CCR and CCM in the DRC and the Kalonwe mining and smelting integration project under construction; the Youshan Nickel Project in the Weidabai Industrial Park in Indonesia has an annual capacity of 34,000 tons of nickel metal. The project is in stable operation, and proposes to invest in the construction of 40,000 tons of nickel metal weight high ice nickel project of Shengmai Nickel; and also owns the lease of Munari nickel mine in southern Zambia. In the first half of this year, Shengtun Mining produced 19,700 metal tons of nickel products, 26,200 metal tons of copper and 5,868 metal tons of cobalt products. Shengtun Mining said that this cooperation can help both parties to reduce operating costs and improve the technical strength, product quality and service quality of related products, etc.