Wellbiotech Establishes Large-Scale Lithium Shipment System in Zimbabwe... "Proceeding with Additional Order of 5000t"

Wellbiotech announced on the 30th that it has established a large-scale lithium ore (spodumene) shipment system in Zimbabwe. Following the pilot project of 2,000 tons, an additional order of 5,000 tons has been placed.

At the end of July, Wellbiotech placed an order for 2,000 tons of lithium ore in Zimbabwe as a pilot project. The lithium ore mined in Zimbabwe is sent to a lithium refining plant in China to be processed into lithium carbonate or lithium hydroxide. The spodumene secured by Wellbiotech is of the highest grade with a Li2O (lithium oxide) purity of over 4%.

A Wellbiotech official stated, “During the pilot project period, we worked to establish a system capable of reliably shipping 5,000 tons each time locally in Zimbabwe. Although the progress of the project was slower than expected due to Zimbabwe’s challenging working environment and the strict security measures required by the lithium industry, we are managing the work more cautiously and systematically as it is still in the early stages of the project.”

He added, “Once the shipment of the additional 5,000 tons is successfully completed, we will consider the local system to be stably established. From then on, we plan to continuously ship lithium ore in quantities of 5,000 tons.”

The Wellbiotech lithium business team is building a working environment to smoothly ship large quantities of ore by operating a large-scale collection center to improve and overcome the harsh conditions in Zimbabwe.

Additionally, CEO Suh Kye-hyun of Wellbiotech recently returned from a business trip to Shandong Ruifu Lithium Industry Co., Ltd., a Chinese lithium refining company. This visit was part of follow-up activities after signing a Memorandum of Cooperation (MOC) in July, and the main contract for lithium original design manufacturing (ODM) has been finalized.

Accordingly, Wellbiotech has completed the establishment of all processes related to lithium supply, from securing lithium and refining to producing lithium carbonate and lithium hydroxide, and is continuously negotiating to secure various sales channels.

A company official emphasized, “Although there is currently interest from China to purchase at any time, our goal is ‘internalization of rare minerals,’ so we prioritize domestic supply.”