21.02.2017
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DGAP-News: SolarWorld AG enters partnership for lithium mining in Ore Mountains
DGAP-News: SolarWorld AG / Key word(s): Contract/Miscellaneous
SolarWorld AG enters partnership for lithium mining in Ore Mountains
21.02.2017 / 08:00
The issuer is solely responsible for the content of this announcement.
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SolarWorld AG enters partnership for lithium mining in Ore Mountains
Bacanora Minerals Ltd acquires 50 percent share of SolarWorld's lithium
project
The lithium project initiated by SolarWorld in the Eastern Ore Mountains is
moving forward. The solar technology group will sell a share of 50 percent
of its project in Altenberg-Zinnwald to Bacanora Minerals Ltd. Under the
name Deutsche Lithium GmbH, the future joint venture will be domiciled in
Freiberg, Saxony, and operationally controlled by Bacanora Minerals and
SolarWorld AG together.
The new partner will earn its share of the project in return for a cash
consideration of EUR 5 million and the completion of a feasibility study on
the project, which will take approximately 18 to 24 months. Bacanora
Minerals will undertake all financial investments for the project.
Furthermore, the partner has the option to acquire the outstanding 50
percent within a 24 month period for a mid double-digit million amount.
Bacanora, a London listed company, with headquarters in Calgary, Canada, is
an experienced resource developer focused on lithium and the Sonora region,
Mexico.
Dr.-Ing. E. h. Frank Asbeck, CEO of SolarWorld AG: "Lithium is a key raw
material of storage systems. Being able to store and consume renewable
energies 24/7 will give solar power another enormous boost." That's why
SolarWorld started to explore lithium at Altenberg-Zinnwald on the German-
Czech border in 2011. The deposit of lithium in the Eastern Ore Mountains
is situated about 50 kilometers from SolarWorld's site in Freiberg and is
one of the largest in Europe.
"Initiating lithium mining in the Ore Mountains has paid off. After we, as
SolarWorld, have taken the first steps, our partner's know how and
financial means will now move this project forward. This will have a lot of
positive effects for the region. SolarWorld will continue to focus on
manufacturing high-quality solar power products that can be combined with
storage systems and smart control applications," says Dr.-Ing. E. h. Frank
Asbeck.
SolarWorld REAL VALUE: SolarWorld manufactures and sells high-tech solar
power solutions and in doing so contributes to a cleaner energy supply
worldwide. The group, headquartered in Bonn, Germany, employs 3,288 people
and operates facilities in Freiberg, Germany; Arnstadt, Germany; and
Hillsboro, Oregon, USA as well as in a joint venture with Qatar Solar
Technologies. From raw material silicon to solar wafers, cells and modules,
SolarWorld manages all stages of production ‒ including research and
development in its own company, SolarWorld Innovations. Through an
international distribution network with locations in Europe, USA,
Singapore, Japan, South Africa and Qatar, SolarWorld supplies customers all
over the world. The company upholds high social standards and commits
itself to resource- and energy-efficient production. With its program
Solar2World, the company supports the expansion of solar power in
developing countries. SolarWorld was founded in 1998 and has been publicly
traded on the stock market since 1999. More information at
www.solarworld.com
Contact:
SolarWorld AG
Investor Relations
Phone: +49 228 55920-470; Fax: +49 228 55920-9470,
Email: [email protected]; Web: www.solarworld.de/en/investor-
relations
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21.02.2017 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: SolarWorld AG
Martin-Luther-King-Straße 24
53175 Bonn
Germany
Phone: +49 (0)228 - 559 20 470
Fax: +49 (0)228 - 559 20 9470
E-mail: [email protected]
Internet: www.solarworld.de
ISIN: DE000A1YCMM2, DE000A1YDDX6, DE000A1YCN14
WKN: A1YCMM, A1YDDX, A1YCN1
Listed: Regulated Market in Dusseldorf, Frankfurt (Prime
Standard); Regulated Unofficial Market in Berlin, Hamburg,
Hanover, Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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545975 21.02.2017
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