Tianqi Lithium Corporation (09696): Terminates investment in the construction of the "Second Phase 24,000-ton battery-grade lithium hydroxide monohydrate project"

Tianqi Lithium Corporation (09696) issued an announcement that the Board of Directors approved the resolution to terminate the investment and construction of the "Second Phase 24,000-ton battery-grade lithium hydroxide project." After comprehensive review of the company's preliminary investment in the "Second Phase Lithium Hydroxide Project" in Australia (referred to as the "Phase Two lithium hydroxide project"), as well as the projected future capital investments, operational expenses, project execution progress, and estimated future cash net flows, the Board of Directors believes that continuing the construction of the Phase Two lithium hydroxide project will not be economically viable. In order to prevent further waste of resources, reduce potential economic losses, and effectively protect the interests of the company and all shareholders, based on the principle of prudence, the Board of Directors agreed to terminate the Phase Two lithium hydroxide project.