Jinyuan EP to build 10,000 tonnes per year lithium carbonate project

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Publish time: 17th January, 2022      Source: CCM
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    Summary: Jinyuan EP Co., Ltd. plans to build 10,000 t/a lithium carbonate project and to achieve lithium carbonate's mass production at a faster speed.   

  

    Jinyuan EP Co., Ltd. (Jinyuan EP) announced on 5 Jan. that its sub-subsidiary company Tibet Ngari Lithium Mining Development Co., Ltd. (Ngari Lithium Mining) planned to invest USD125.40 million (RMB800 million) in Baqiancuo Salt Lake's 10,000 tonnes lithium salt project in Ngari, Tibet.   

  

        

  

    As reported, the project is going to be built through two phases. In the first phase, the company aims to fully verify the technical feasibility and build 2,000 t/a lithium carbonate field test device. It also aims to launch its products and reach design capacity within standard at the end of May 2022. In the second phase, the company plans to improve the design of 2,000 t/a field test device and build 8,000 t/a production equipment. It strives to launch products and achieve design capacity in compliance with standard at the end of Nov. 2022.   

  

        

  

    The announcement also stated that Geji Lithium Industry Development Co., Ltd. (Geji Lithium Industry), a wholly-owned subsidiary of Ngari Lithium Mining, obtained in accordance with the law the right of mining in Baqiancuo Salt Lake, Geji County on 30 Sept., 2021. Geji Lithium Industry is allowed to exploit boron, lithium and potassium ores until 2 Apr., 2029. Geji Lithium Industry designs to yield 8,000–10,000 t/a lithium carbonate and 20,000 t/a boron trioxide.   

  

        

  

    Jinyuan EP announced that it was taking initiative to search for lithium ore resources abroad besides domestic salt lakes.   

  

        

  

    At present, lithium resources are of strategic significance. Leading battery companies such as Contemporary Amperex Technology Co., Ltd. and leading lithium salts companies such as Ganfeng Lithium Co., Ltd. have stepped up the acquisition and deployment of overseas lithium mines. As the capacity expansion of lithium battery manufacturers accelerates, orders for downstream cathode materials increase, further resulting in tight supply and soaring prices of lithium ores. In the medium and long term, the tight supply of lithium resources may become a key factor that restricts the development of lithium battery industry. The supply of lithium resources is expected to be tighter in H1 2022. In H2 2022, the tight supply may ease with the commissioning of some overseas mines and salt lake projects. But on the whole, lithium ores may continue to be in short supply, and its price may remain high and continue to put pressure on the lithium salts side in 2022.   

  Source:CCM

  

  More information about this article can be found at CCM Li-ion Battery China Monthly Report

  

  

  

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