Another State owned Enterprise Joins the "grab" mine

A few days ago, GAC Group announced that its wholly-owned subsidiary GAC Parts, Shixi Coal Industry and Zunyi Energy had signed the Joint Venture Contract to jointly establish a joint venture, Guizhou Dongyang New Energy Technology Co., Ltd., to carry out related mineral geological exploration and investment management of mineral resources.
According to the announcement, the registered capital of the joint venture company is 200 million yuan, of which GAC Parts holds 47.5%, Shixi Coal holds 47.5%, and Zunyi Energy holds 5%. It is planned to set up in Zunyi City, Guizhou Province.
According to the plan, under the condition that they comply with national laws and regulations and relevant industrial policies, the three parties will orderly promote the joint venture to obtain the exploration right of aluminum polymetallic (lithium resources) deposits in Shixi Town, Tongzi County, Zunyi City, Guizhou Province, and implement mineral geological exploration and subsequent acquisition of mining rights.
This means that GAC Group has officially joined the "grab" mine!