China’s central bank pauses gold purchases for sixth straight month
Bullion prices have surged about 33% this year, on track for the largest annual gain since 1979.
China’s Chengtun Mining Group Co Ltd started construction of a lithium processing project with an annual production capacity of 60,000 tonnes in the southwestern province of Sichuan, the local-government backed Sichuan Daily reported.
The project is expected to produce 30,000 tonnes of lithium, 20,000 tonnes of battery-level lithium hydroxide and 10,000 tonnes of lithium carbonate when full production starts in 2023.
The project will see a total investment of 2.4 billion yuan ($349.42 million).
($1 = 6.8686 Chinese yuan)
(By Muyu Xu and Shivani Singh; Editing by Subhranshu Sahu)
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