Barrick Gold Corp will make a bigger push to attract institutional investors in China under a new deeper-ties pact with Shandong Gold, aimed at bolstering its shareholder base, executives told Reuters.
A surplus of cobalt chemicals used to make the rechargeable batteries that power electric vehicles has seen Chinese refiners switch to producing metal, sending prices down 30 percent in recent months.
The expansion, on top of a $238 million upgrade due for completion in April, will double the mine’s production to 1.95 million tonnes a year of lithium concentrate a year from 2020.