Huayou Cobalt cooperates with Weihua Group to secure lithium supply

Published: Jun 18, 2019 16:02

Save

Tianjin Bamo-tech, an affiliate of Huayou Cobalt, signed an agreement with Weihua on Jun 15

SHANGHAI, Jun 18 (SMM) – New energy battery materials producer Tianjin Bamo-tech, an affiliate of Huayou Cobalt, signed a cooperation agreement with Weihua Corp and its subsidy Zhiyuan Lithium on June 15, Weihua said on Monday June 17.

In May, Huayou Cobalt spent 3.2 billion yuan to acquire Bamo-tech, whose lithium cobalt oxide (LCO) capacity stands at 12,000 mt with ternary materials capacity likely to reach 63,000 mt by the end of the year.

Sichuan Zhiyuan Lithium, purchased by Weihua in 2016, can produce 18,000 mt of lithium carbonate and 15,000 mt of lithium hydroxide in a year, with spodumene as feedstock.

In February, Weihua bought 100% stake in Chengtun Lithium, who has a spodumene mine in Sichuan. The mine is expected to commence operation by November.

Cooperating with Weihua is set to help secure raw materials supplies to Bamo-tech, and improve its advantage when competing for orders from battery producers and automakers.

Cobalt Lithium

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

11 hours ago

Beijing Launches 500-kV Power Project in Fengtai, Boosting Grid Resilience and Industrial Growth

On January 28th, the construction of the 500-kilovolt power transmission and transformation project in Fengtai, Beijing officially started. This project is the first newly-built 500-kilovolt power grid project in Beijing during the 15th Five-Year Plan period. It will significantly enhance the resilience and power receiving capacity of the southern Beijing power grid and provide reliable power support for Beijing to continuously optimize the investment structure and vigorously develop high-end, precise, and cutting-edge industries. The 500-kilovolt power transmission and transformation project in Fengtai, Beijing is a key project of Beijing's power grid during the 15th Five-Year Plan period and one of the "3 100" key projects in Beijing this year. It is constructed and managed by the State

11 hours ago

Shaanxi-Anhui UHV DC Project's 500-kV AC System at Hezhou Station Begins Operation After Trial Run

On February 1st, the 500-kilovolt AC system of the Hezhou Converter Station, the receiving-end station of the ±800-kilovolt UHV DC power transmission project from northern Shaanxi to Anhui, was officially put into operation after a 24-hour trial run.

11 hours ago

750-kV Power Line Connecting Northern to Central Shaanxi Fully Operational

On February 2nd, the 750-kilovolt power transmission and transformation project of the third passageway from northern Shaanxi to central Shaanxi was fully connected. The project starts from the 750-kilovolt Shuofang Substation in Shenmu City in the north and ends at the 750-kilovolt Bailuyuan Substation in Lantian County in the south. It has newly built a 1,271-kilometer line, passing through 18 counties (districts) in 4 cities including Yulin, Yan'an, Weinan and Xi'an.

11 hours ago