Shanghai Nonferrous Metals News
5th January 2024: Backed by total investments of RMB 5 bln from Lianyungang Industrial Investment Group Lihai Chemical Co., Ltd. and Yantai Kaishi Industrial Co., Ltd, the key materials project of Lihai New Energy Batteries was launched in at the Lianyungang Economic Development Zone. The project will be carried out in two phases.
Project Phase I, with a RMB 3.62 bln investment, aims to produce various materials, including 100 kt of ternary precursor, 60 kt of nickel sulfate, 7 kt of electroplated cobalt and 8 kt of manganese tetroxide. Construction of the raw material pre-treatment workshop for Phase I is set to begin in December 2023, with a targeted completion and operations date of 2025.
Once both phases are finished, the project will be the world’s largest metallic cobalt producer and the second-largest nickel metal production base in China.
