The proposed site would produce 20,000 tonnes a year of graphite anode active material for lithium-ion batteries, according to a technical study.

AGMK's plans include boosting both mining and ore processing facilities and the construction of a new smelter.

Rising global exchange stocks of copper have damped bullish spirits.

Imouraren is one of the world’s biggest uranium deposits, with reserves estimated at 200,000 tons.

The monetary value of the copper is about 110 million yuan ($15 million).

Wuchan Zhongda Group, which had sales of $80 billion in 2023, bought 2,000 tons of refined copper from a Russian smelter that should have been delivered last month.

Stable supply of critical minerals is considered crucial, as South Korea lacks natural resources.

The company may also look to enter new markets in Saudi Arabia and Oman.