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In Jixi, the subsidiary of Beijing Automotive Group (BAIC), Heilongjiang Pride New Material Co., has earmarked Chinese renminbi (Rmb) 2.75bn ($406.5m) to fund an anode material project.
The sum originates from BAIC and the local Jixi government. Xiangbin Li, vice president of the company, told local media that the project is expected to have annual profits of Rmb 650m, and employ 1,600 people.
BAIC’s graphite ore is sourced at Liumao Graphite Mine, the biggest in the area, developed in the 1940s by Japan.
Another local operator, Shenzhen BTR New Material, has already invested Rmb 1.3bn in Jixi on its graphite and anode material business.
The local government is aiming to further enhance the weight of Heilongjiang within China’s graphite sector. Hengshan and Mashan districts in Jixi are in the process of setting up a so-called 'graphite park’ over an area of 15km2.
The first phase of infrastructure construction has now started, while the second phase (setting up of standardised mining area) has drawn interest from eight companies with a graphite capacity of 350,000 tpa combined.
Graphene is also a hot topic for graphite companies. Huasheng Graphene Co., established in Luobei county in Hegang, poured Rmb 1bn into its graphene project. Its facility has a capacity to process 100 tpa graphene through arc discharge, and 500 tpa redox process graphene. The operation is expecting an annual turnover of Rmb 1.2bn
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