GAC-Zijin Joint Venture Makes Progress in Billion-Yuan Battery Recycling Project

With a total investment of 1.16 billion yuan, the GAC Zijin New Energy Battery Comprehensive Utilization Project has made new progress. The project was reached between Zijin Mining Group and GAC Group in September last year, with a total investment of 1.16 billion yuan, aiming to jointly build a battery material Shanghang base project. Both parties will carry out deep cooperation in the new energy automobile industry chain, including cathode materials, electrolytes, separators, and comprehensive utilization of battery materials.

The GAC Zijin New Energy Battery Comprehensive Utilization Project covers an area of about 170 mu, with a total investment of 1.16 billion yuan. It adopts advanced automated battery disassembly and sorting, wet recovery and extraction processes to recycle and reuse retired lithium-ion batteries. The main products include lithium iron phosphate and lithium carbonate. The project is divided into two phases. The construction scale of the first phase is to handle 20,000 tons of lithium iron phosphate retired batteries per year, with construction starting in December 2023 and planned completion and commencement of production in March 2025.