Report: Canmax, 5 firms, to develop lithium battery

Canmax announced on Tuesday November 13 that it will establish a joint venture with Changjiang Chendao (Hubei), Contemporary Amperex Technology (CALT), Yibin Tianyuan Group, Ningbo Hanyi and Meishan Bonded Port Area Chaoxing Investment, to develop materials for lithium-ion batteries.

With total project capital of 700 million yuan, Canmax invested 294 million yuan, accounting for 42% of the total; Changjiang Chendao invested 182 million yuan and CALT invested 105 million yuan.

The project will produce 40,000 mt of lithium carbonate and lithium hydroxide per year. It will be split into two phases with the first 20,000 mt of capacity likely to be commissioned at the end of 2019.