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Japan's SMM aims to double battery material capacity in nine years

2019-05-21 14:58:25  【Print】
Japanese miner and smelter Sumitomo Metal Mining Co Ltd (SMM) aims to double its production capacity of cathode materials used in batteries for automobiles by March 2028, its president Akira Nozaki said recently.

SMM supplies the nickel-cobalt-aluminium (NCA) cathode materials used in Panasonic Corp's lithium-ion battery that powers Tesla Inc's Model 3 and Model X cars.

SMM plans to boost its output capacity of cathode materials to 10,000 tonnes a month by end-March 2028, from 4,550 tonnes a month now. However, there is not yet a concrete plan in place that specified investment amounts and timing.

SMM has spent 37 billion yen ($337 million) over the past few years to boost its NCA output capacity from 850 tonnes a month to 4,550 tonnes.

The company has its hands full now to meet demand from its main customers such as Panasonic and Toyota Motor Corp.

Under a long-term plan through March 2022, SMM also aims to raise annual output from its global mine holdings to 300,000 tonnes of copper concentrate and 150,000 tonnes of nickel metal.

.Asian Metal CopyrightJapanese miner and smelter Sumitomo Metal Mining Co Ltd SMM aims to double its production capacity of cathode materials used in batteries for automobiles by March 2028, its president Akira Nozaki said recently.Asian Metal Copyright