Taiwan's Advanced Lithium jumps most in 2 months on Australia production deal

Avenira

21/09/2022 05:17

** Shares of Taiwan's Advanced Lithium Electrochemistry
(Cayman) Co Ltd  5227.TWO  jump as much as 8.1% to T$56; set for
biggest daily pct rise since July 22 if gains hold
    ** Stock hits highest since Sept 2 and on course for the
second session of gain
    ** The Taoyuan-based producer says its unit has signed an
MoU with the Northern Territory Government of Australia and
Avenira Ltd  AEV.AX  for building and operating a lithium iron
phosphate battery cathode manufacturing plant in Darwin
 urn:newsml:reuters.com:*:nL4N30S08G
    ** Says the plant will have a production capacity of 200,000
tonnes in 10 years
    ** Shares of Australia-listed Avenira soar as much as 40%,
heading for best day since Oct 27, 2021 
    ** Taiwan SE Weighted Index  .TWII  slips 0.6%
    ** As of last close, shares of Advanced Lithium had dropped
44.8% this year

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))