LG Chem and Korea Zinc to set up battery material joint venture
2022-02-08 12:03:00 [Print]
LG Chem and Korea Zinc are considering to set up a joint venture that will produce battery materials during the first quarter of this year.
The joint venture will produce precursor used in the production of battery cathode as well as nickel matte, the raw material needed to produce nickel sulfate, according to sources from the companies.
The JV will purchase nickel matte produced by itself or Korea Zinc's subsidiary which currently makes the material. It will then process nickel matte into precursors which will be supplied to LG Chem to produce battery cathode.
The joint venture will produce precursor used in the production of battery cathode as well as nickel matte, the raw material needed to produce nickel sulfate, according to sources from the companies.
The JV will purchase nickel matte produced by itself or Korea Zinc's subsidiary which currently makes the material. It will then process nickel matte into precursors which will be supplied to LG Chem to produce battery cathode.
Nickel Sulfate Ni 22%min; Co 0.4%max Delivered China
Unit:RMB/mt
China nickel sulfate producers' sales to production ratio statistics by province by month
Unit: %
