August 15 – CITIC Guoan Information Industry (000839) reported that CITIC Guoan Group, its controlling shareholder, signed an agreement with Bolivia to assess a reserve in one of the country’s salt lakes, reports yicai.com, citing a company filing.

If the reserve meets production requirements, the Chinese firm will submit a proposal based on the industrialization of sylvite and lithium salts.

CITIC Guoan Information predicts that net profits for the first half of 2011 totaled 70 million yuan, down between 50 and 100 percent year-on-year.

The company’s subsidiary in Qinghai saw lower output during the first six months of the year due to flooding, the report added.

Source:CapitalVue