Chinese company leaves Canada, eyes four lithium mines in Namibia



Another Chinese mining company Yahua Industrial Group has eyed lithium in Namibia and plans to invest US$145m (N$2,5b) in company acquisitions.

Sichuan Yahua Industrial Group is an industrial group headquartered in Chengdu, capital of Sichuan Province.

In October 2022, following Canada's shutdown of Chinese lithium mining companies, Yahua Industrial Group pulled out of a deal with Ultra Lithium.

Yahua manufactures professional civil blasting materials and offers blasting services.

The company has more than RMB3b of assets and more than 3 000 employees, 1 000 of which are professionals and technicians. 

It has 14 manufacturing bases in Sichuan Province, Inner Mongolia Autonomous Region, Guizhou Province, Xinjiang Uygur Autonomous Region, Tibet Autonomous Region in China, and South Island and North Island of New Zealand.

Although it is still being determined which companies have been targeted for acquisition, Yahua announced last week that it wants about 720 square kilometres in Namibia's Damaraland mining district. 

The company said its subsidiary Yahua International Investment and Development would buy a 70% stake in two Hong Kong units of China Africa Industrial that own 70% of the four lithium mines in Namibia.

According to Yahua, their target lithium deposits should be at least 150 000 tons.


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