After shaking up nickel, China’s Tsingshan sets sights on lithium

after shaking up nickel chinas tsingshan sets sights on lithium

Sumary of After shaking up nickel, China’s Tsingshan sets sights on lithium:

  • Tsingshan Holding Group, the Chinese firm that shook the nickel world by rapidly boosting output in Indonesia, is among the latest entrants to the white-hot lithium sector, potentially making it a one-stop shop for electric vehicle (EV) battery ingredients.
  • Tsingshan, predominantly a stainless steel maker, came out of nowhere to become the world’s top nickel producer in 2018 thanks to its pioneering use of low-grade nickel pig iron.
  • It and fellow Chinese company Chengxin Lithium Group Co will produce 60,000 tonnes per year of lithium chemicals at a lithium processing facility in Indonesia, Chengxin has said in a company filing, the first announcement of such a plant in the country.
  • Added to the battery-grade nickel and cobalt production already under development at its Indonesia facilities, the lithium supplies would make Tsingshan a major scale producer of three key ingredients required for EV and other rechargeable batteries.
  • Tsingshan did not respond to a request for comment on its lithium plans, but a company executive told Reuters the “battery business will become a new core business.
  • “Tsingshan owns 35per cent of the project, and Chengxin 65per cent.
  • No start date for the lithium plant has been given, and it still faces challenges.
  • A Chengxin official told Reuters it will need 450,000 tonnes of lithium concentrate annually for the project, all from hard-rock lithium ore.

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