Posco and Huayou Cobalt to launch recycling joint venture
2021-05-31 11:32:19 [Print]
South Korea's Posco wants to set up a recycling business for lithium-ion batteries from electric cars together with the Chinese company Huayou Cobalt. The partners have already established a 65:35 joint venture called Posco Hy Clean Metal.
Posco Hy Clean Metal will subsequently invest 120 billion won (about 88 million euros) to build a black powder processing plant in Gwangyang. Black powder is a product of battery recycling and contains materials such as nickel, lithium, cobalt and manganese.
In Gwangyang, the joint venture wants to extract precisely these materials from the black powder and process them into battery quality. In this way, the material is to be used in new cathodes. Construction of the plant in the city of Gwangyang, which will have an initial annual capacity of 10,000 tonnes, is to begin this year.
Posco Hy Clean Metal will subsequently invest 120 billion won (about 88 million euros) to build a black powder processing plant in Gwangyang. Black powder is a product of battery recycling and contains materials such as nickel, lithium, cobalt and manganese.
In Gwangyang, the joint venture wants to extract precisely these materials from the black powder and process them into battery quality. In this way, the material is to be used in new cathodes. Construction of the plant in the city of Gwangyang, which will have an initial annual capacity of 10,000 tonnes, is to begin this year.
Lithium Iron Phosphate Li 3.9%min Delivered China
Unit:RMB/mt
China lithium cobaltate producers' output statistics by province by month
Unit: mt
