Sinomine Seeks $760 Million for African Lithium, Copper Projects

China’s Sinomine Resource Group Co. is seeking as much as 5.2 billion yuan ($764 million) to fund projects in Africa, as it steps up investments in raw materials critical to the energy transition.

The company plans to raise capital through a private placement in China, with the proceeds used for its lithium sulfate plant in Zimbabwe, a copper mine in Zambia, a cesium and rubidium project in China’s Jiangxi province, and general cash flow improvements, according to a statement filed with the stock exchange on Tuesday.