Mining field:
1) In 2014 years, Tellson (5 1%) was controlled by Winfield, and Tellson owned the world's largest spodumene mine, with a lithium reserve of 6.9 million tons of LCE, and the company's equity ratio was 51%;
2) The company's Zola spodumene mine in Yajiang County is currently in the construction stage, with a lithium resource of 630,000 tons of LCE.
In the field of salt lake resources, the company's equity lithium resources are 890,000 tons LCE:
By extension, it acquired 20% equity of Zabuye in Shigatse, and the lithium reserve of salt lake10.83 million tons LCE, and the ratio of magnesium to lithium was 0.02, which is the best lithium resource in domestic salt lakes.
In addition, it also acquired 23.77% equity of SQM (accounting for 25.86% of the total issued shares of SQM). The Atacama Salt Lake in Chile under SQM is one of the most abundant salt lakes in the world.
General situation of lithium resources and reserves
Tellison Greenbushes lithium mine, the company's strongest barrier to raw material safety.
Tellison is the world's largest supplier of chemical lithium concentrate, accounting for 32% of the global supply of lithium ore. Tianqi successfully acquired the equity of Winfield 5 1% of Tenny's biological parent company in 20/0/4 years, which ensured the company's absolute advantage in upstream resources. Since the discovery of tin deposit by 1886, the mining operation of Tellison's Greenbushes mine has been continuously carried out, and it is recognized as the oldest continuous operation mine.
Tellison Greenbushes mine is the largest hard rock lithium mine in the world. According to the BDA report, as of March 3, 20654381day, the lithium resources in the central vein area were 8.33 million tons and the lithium reserves were 6.9 million tons. The lithium oxide resources and reserve grade in the central vein area are 2. 1%/2.0% respectively. In addition, the tailings facility area 1 is located in the center of the Greenbushes mine, with about 580,000 tons of LCE controlled and inferred lithium resources and 360,000 tons of LCE approximate lithium reserves.
According to the BDA report, the remaining mine life of Greenbushes Mine is about 17 years, considering the expansion projects that have been implemented, planned or envisaged at present.
In 20 17, the designed annual capacity of Tellison lithium concentrate concentrator is 740,000 tons. On July 20 18, the company agreed to start the capacity expansion of chemical-grade lithium concentrate. It is estimated that the company will achieve the goal of increasing the production capacity of chemical grade lithium concentrate to10.8 million tons/year in 20021year, and the total investment is estimated to be about 510.6 million Australian dollars. It is expected to be completed in the fourth quarter of 2020 and start trial production.
Future capacity scale and expansion of Tellson lithium concentrate (1 0,000 tons/year,1A $100 million)
The natural barriers to participating in the best quality salt lakes in China need to be broken.
Strategically participate in domestic high-quality salt lakes and capture Zabuye Salt Lake. 2065438+In August, 2004, Tianqi Lithium Industry signed the Property Right Transaction Contract with Xizang Autonomous Region Mining Development Corporation, and acquired 20% equity of Zabuye Lithium Industry High-tech Co., Ltd. in Shigatse, Tibet held by Mining Corporation for 3 1 10,000 yuan. Zabuye Salt Lake is a lithium-rich carbonate salt lake with a lithium resource of 6.5438+0.83 million tons (calculated by lithium carbonate) and a ratio of magnesium to lithium of 0.02. It is the best salt lake lithium resource in China (with large reserves, high grade and low ratio of magnesium to lithium).
Environmental climate and other factors lead to the slow progress of salt lake project. As the average elevation of Salt Lake in Tibet is over 4,500m, there is a shortage of local skilled workers, and it is difficult for the relocated people to adapt to the harsh local environment, which has an impact on the project manpower of the company. In addition, most salt lakes in Tibet are located between mountain peaks, and there are few flat bottoms for installing plant equipment, which limits the substantial expansion of production capacity. Therefore, the Tibet mining industry processes the salt lake brine once, and then transports it to silver for secondary processing to generate lithium carbonate, and the transportation distance is more than 2,000 kilometers. At present, the expansion of the company's salt lake project is mostly limited by business factors. Large-scale development needs a lot of capital investment to achieve productivity improvement, and the output still needs to break through the bottleneck.
Production of lithium concentrate and lithium salt in Tibet mining industry over the years (ton)
It is planned to acquire the equity of SQM, the world's largest salt lake company, and extend its resources to the lithium triangle in South America.
Tianqi acquired 23.77% equity of SQM and will become its second largest shareholder after the acquisition. 2065438+In June 2008, the agreement signed by both parties confirmed the acquisition of 62,556,600 Class A shares held by Nuodilun at the purchase price of 65 USD/share (accounting for 23.77% of the total share capital of SQM). The proposed investment for the acquisition of SQM is USD 4.066 billion (converted into RMB 25.893 billion at the exchange rate on the signing date of the agreement). According to the valuation of Kaiyuan Appraisal, the market value of shareholders' equity of SQM is USD 65.438+06.005 billion (2065.438+07.654.38+02.07), and the corresponding valuation of 23.77% shares is USD 3.804 billion. The transaction price is 6.89% higher than its valuation. Compared with the time when the agreement was signed (May 2065438+May 2008, June 65438+July 2008), the prices of Class A shares and Class B shares of SQM Company (converted by the closing price of Chilean peso and US dollar on that day) were 17.97% and 18.27%, respectively, which were far lower than those of buying Teller. If the equity purchase is successful, Tianqi Lithium will not merge the financial statements of SQM, and the purchase price will be regarded as a long-term equity investment, which will be accounted for according to the equity method; The stock price fluctuation of SQM has no direct impact on the company's financial statements. On the day after the transaction is completed, SQM will hold about 25.86% of the economic interests of SQM. 20 18 12, the acquisition of the company was completed.
Global production pie chart
It is estimated that the sales volume of lithium carbonate in 18 will be 55,000 tons. The global salt lake lithium extraction companies are mainly SQM, FMC and Rockwood (now acquired by ALB), which account for 32% of the global lithium market supply. The Atacama Salt Lake in Chile was developed by SQM and Rockwood respectively. Hom Braiteau Salt Lake in Argentina was developed by FMC. The total sales volume of SQM in 20 17 was about 49,700 tons of LCE. It is estimated that the sales volume in 18 will be 55,000 tons, and the market share in 17 will be about 16%.
The current capacity of lithium salt plate is 48,000 tons, and165438+7,000 tons of lithium carbonate and 7,500 tons of lithium hydroxide will be added in the long term. In March of 20 18, SQM announced that it would spend 65.438+0.7 billion US dollars to expand the lithium carbonate production capacity from 48,000 tons in 20 18 to 70,000 tons, and then to 6.5438+0.0 million tons in 20 19. SQM has built a lithium hydroxide plant in Saladel Carmen with a capacity of 6,000 tons/year. During the period of 20 18, the company plans to increase this capacity to 13500 tons/year by improving efficiency and building a 7000-ton factory. The company's long-term plan is that the capacity of lithium carbonate in Chile will reach 654.38+10,000 tons, that in Argentina will reach 25,000 tons and that in Australia will reach 40,000 tons. Chile's lithium hydroxide reached 1.35 million tons.