Total Investment of 1.5 Billion RMB! Ganfeng Lithium's New Initiative in Battery Recycling
Recently, the Xinyu High-Tech Ecological Environment Bureau announced its proposed approval for Jiangxi Ganfeng Recycling Technology Co., Ltd.'s project to produce 20,000 tons of battery-grade lithium carbonate and 80,000 tons of battery-grade iron phosphate annually.
Specifically, the project entails a total investment of 1.5 billion RMB, covering an area of approximately 244 mu (16.27 hectares) and located in Huotian Village, Mahong Office, Xinyu High-Tech Industrial Development Zone.
The project will utilize key raw and auxiliary materials such as waste lithium iron phosphate battery powder, concentrated sulfuric acid, hydrogen peroxide, and caustic soda. The production process for battery-grade lithium carbonate involves steps including alkaline washing, acid dissolution, impurity removal, centrifugation, drying, and pulverizing. For battery-grade iron phosphate, the production process includes acid dissolution, oxidation, pressure filtration, washing, drying, calcination, and pulverizing.
Founded on January 25, 2016, Jiangxi Ganfeng Recycling Technology Co., Ltd. is a wholly owned subsidiary of Jiangxi Ganfeng Lithium Co., Ltd., with a registered capital of 100 million RMB. The company is a vice president unit of the Jiangxi Province New Energy Vehicle Power Battery Recycling Utilization Association and is included in the Ministry of Industry and Information Technology’s Specifications for the Comprehensive Utilization of Waste Power Batteries for New Energy Vehicles. It is also recognized as a national high-tech enterprise. The company focuses on the recycling, processing, and sales of batteries and metal waste, as well as the production and sales of lithium salts, rubidium-cesium salts, and nickel-cobalt-manganese hydroxides. It is the largest waste lithium iron phosphate battery recycling company in China, accounting for over 65% of the domestic market share.
This project marks another significant move by Ganfeng Lithium in the field of lithium battery recycling. In recent years, the company has leveraged its strengths in recycling retired batteries while expanding its lithium battery recycling capacity as part of its efforts to enhance its industrial chain layout and expand downstream business operations.
Previously, it was disclosed that Jiangxi Ganfeng Recycling Technology Co., Ltd.'s wholly owned subsidiary, Jiangsu Ganfeng Recycling Technology Co., Ltd., planned to enter a Shareholding Cooperation Agreement with Nanjing Public Utilities Development Co., Ltd., and Nanjing Environmental Group Co., Ltd. The agreement aimed to establish Nanjing Public Ganfeng Recycling Technology Co., Ltd., leveraging each party’s expertise and resources to advance the industrial layout of the circular economy centered on the comprehensive utilization of power batteries. Jiangsu Ganfeng proposed to invest 40 million RMB, representing a 40% stake in the registered capital. Nanjing Public Ganfeng Recycling Technology Co., Ltd. was officially established on September 27, 2024.
Source: Xinyu High-Tech Ecological Environment Bureau
