Report: Yongxing Special Steel begins 3 billion-yuan battery-grade lithium carbonate project

SHANGHAI, Apr 23 (SMM) – Jiangxi Yongxing Special Steel New Energy Technology launched the first stage of its 3 billian yuan, battery-grade lithium carbonate project in Yichun, Jiangxi province on April 21.

The project includes mining, beneficiation, production of lithium carbonate and lithium-ion battery cathode materials. It is estimated that the project will have an annual capacity of 30,000 mt of lithium-ion, new-energy materials and downstream products. In comparison, China’s planned lithium carbonate capacity is likely to reach 233,500 mt in 2018, according to SMM’s calculation.

The project's annual composite revenue is expected to exceed 10 billion yuan with profits and taxes over 1 billion yuan after the project is commissioned. Over 1,000 new jobs will also be created.

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