"Tiangi Materials: Additional Investment in Construction Projects
On December 7th, Tiangi Materials announced that the total investment of its subsidiary, Jiujiang Tiangi (Jiujiang Tiangi High-Tech Materials Co., Ltd.), in the recycling project of waste lithium batteries has been revised from 551.289 million RMB to 736.687 million RMB. The project is scheduled to commence in 2021 and upon completion, will generate an annual production capacity of 30,000 tons of high-purity lithium carbonate, 17,600 tons of battery-grade iron phosphate, and 7,600 tons of nickel-cobalt-manganese sulfate. As of now, the project has already formed an annual production capacity of 15,000 tons of high-purity lithium carbonate, with the remaining capacity lines under construction. This includes the addition of some production processing equipment and supplementary construction of corresponding workshop buildings, hence the proposed change in project investment."