Shenzhen-listed mining industry company Youngy says its holding company Youngy (Chengdu) has signed a lithium carbonate supply collaboration agreement with Shenzhen BYD supply chain management. 

According to its announcement released on 21 June, it is based on the daily demands of production and operations. The exact amounts will be determined by the actual delivery volume, delivery time, and market pricing.

The delivery period will be June-December of this year. 

Youngy says: "If this supply agreement is successfully implemented, it will have a positive impact on the performance of Youngy (Chengdu), which we hold 40% stake in. It is expected that the performance of the cooperation agreement will contribute more than 50% to our audited net profit in 2021. The specific data is subject to the annual audit report."

Earlier this month, Youngy announced that Youngy (Chengdu) will finish the trial production of its first-phase 20,000 tonnes/year lithium salt project in June and the official production will start in July, Kallanish notes.