According to the news released by Tianqi (002009), the groundbreaking ceremony of the third phase of the lithium green cycle expansion project of Tianqi Jintai Pavilion was held in Longnan Economic Development District on the morning of September 12.
It is reported that the third phase of Tianqi Jintai Pavilion Lithium electricity Green cycle expansion Project covers an area of 350mu, and the company initially estimates that the project plans to invest about 5 billion yuan. Planning and construction of waste lithium battery comprehensive utilization workshop, ternary precursor synthesis workshop, public auxiliary works and environmental protection projects. After the project reaches production capacity, it will comprehensively recycle and dispose of 80, 000 tons of waste ternary batteries and 50, 000 tons of waste lithium iron phosphate batteries every year, forming an annual production capacity of 30, 000 tons of ternary precursors and 12000 tons of battery-grade lithium carbonate.
Tianqi previously said that the above projects use waste lithium batteries as raw materials to realize the chemical recovery of nickel, cobalt, manganese and lithium resources and the manufacture of ternary precursor materials. the existing element extraction business of Jintai Pavilion and Tianqi Lithium is further extended to the downstream battery material manufacturing business, resulting in the formation of a complete industry chain of waste battery recycling and utilization of "battery recycling-element extraction-material manufacturing".
According to the China Automotive Technology Research Center, the number of new energy vehicles in China reached 4.92 million in 2020, with a total of 200000 tons of power batteries decommissioned (about 25GWh), according to an analysis of Anxin Securities on Aug. 17. The capacity of waste batteries to be recycled in China will reach 137.4GWhin 2025, more than five times that in 2020. The 2021 government report clearly pointed out that "speed up the construction of power battery recycling system". As the national level attaches great importance to the power battery recycling industry, the construction of power battery recycling system will press the "acceleration key", and the market will show broad prospects. Jintai Pavilion, a subsidiary of Tianqi shares, has a broad growth space as a lithium recycling enterprise.
What is noteworthy is that in order to meet the huge market demand for battery-grade cobalt-manganese-nickel lithium salt brought by the fast-growing new energy industry, and to create a resource utilization base for waste lithium batteries with market competitiveness and large-scale economic benefits, on August 17, Tianqi announced that Jintai Pavilion, a wholly owned subsidiary of the company, and its subsidiary Longnan County Ruibo Metal Renewable Resources Co., Ltd. (hereinafter referred to as "Ruibo Regeneration") also plans to invest no more than 440 million yuan to carry out comprehensive utilization and expansion of waste lithium batteries in Longnan Economic and technological Development Zone, Ganzhou City, Jiangxi Province. After the completion of the project, Ruibo Regeneration will achieve an annual output of 20000 tons of ternary battery powder, which is to be put into production in Jintai Pavilion. Jintai Pavilion will increase its annual production capacity of 7300 tons of battery-grade cobalt sulfate, 18700 tons of battery-grade nickel sulfate, 8600 tons of battery-grade manganese sulfate and 3000 tons of lithium carbonate, resulting in an annual production capacity of 50, 000 tons of waste lithium batteries and comprehensive recycling of valuable metals such as nickel, cobalt, manganese, lithium and copper in waste lithium batteries.
According to the semi-annual report of Tianqi shares in 2021, benefiting from the development of the domestic new energy automobile industry, the strong demand for power battery materials led to a rise in the prices of cobalt, lithium and other metals in the first half of 2021. Tianqi shares core subsidiaries Jintai Pavilion and Tianqi Lithium caused a substantial increase in profitability, totaling 545 million yuan in newly signed orders.
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