BATTERY MATERIALS MARKET ANALYSIS

Market News

Global Battery Materials Market: Key Developments

In January 2021, Albemarle announced the expansion of its Lithium production facility in Silver Peak, Nevada by doubling the extraction of lithium from brines. The plan includes investing $30 Billion to $50 Billion to double the current production at the Nevada site by 2025, making full use of its brine water rights. The planned expansion will increase domestic production and help Albemarle to cater to various electric vehicle manufacturers.

In October 2019, Albemarle announced the completion of a 60/40 joint venture with Mineral Resources Limited, named MARBL Lithium Joint Venture. The JV gave Albemarle access to high-quality spodumene source, further diversifying Albemarle's lithium asset base.

In March 2018, Albemarle received approval from Chile's Economic Development Agency (CORFO) for an increase in the company's lithium quota to sustainably increase Albemarle's lithium production in Chile to as much as 145,000 metric tons of lithium carbonate equivalent (LCE) annually through 2043.

In April 2021, CMOC announced its strategic partnership with Contemporary Amperex Technology Co. Ltd. (CATL). As part of the deal, CATL made an equity investment in CMOC Kisanfu project through its subsidiary and joined CMOC in developing copper and cobalt mine in the Democratic Republic of Congo (DRC). The partnership enables CMOX to become a long-term cobalt supplier to CATL and increase its revenue.

In December 2020, Gan Feng announced the expansion of its plant for increasing the annual production of battery-grade lithium hydroxide to 50,000 tons, the total production of 81,000 tons. The new plan is aimed to increase Gan Feng's capabilities in the Lithium supply chain is likely to be augmented by the future demand for battery materials

In December 2019, Gan Feng signed an agreement with BMW Group. Through this agreement, Gan Feng will supply lithium to the BMW Group for using as key raw material in the battery cells.