Ann: Epanko Showcased at Tanzanian Government Mining Conference, page-118

Hi Gammat,

Oh wow, now i am "angry" according to you. LOL. BTW, i cant even remember the last time i got angry.

If, a CR doesn't arrive in time than the shorts can be in a bit of trouble? Unless, it is a company who has an end goal of take over than news wont bother them.

BTW, excellent news to come out from Posco. Fingers and toes are crossed it is someone like Posco that is shorting it??

POSCO Chemical to build a battery core material factory in Gwangyang at a cost of 600 billion won

Registration: 2022-03-07 15:35 Modified: 2022-03-07 15:47

Ahn Tae-ho's photo.

By Ahn Tae-ho

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The localization rate of precursors in the precursor factory, a key raw material for battery cathode materials, was
only 13.9%… “Escape from dependence on China”

POSCO Chemical's cathode material Gwangyang plant. Provided by POSCO Chemical

POSCO Chemical announced on the 7th that it will invest a total of 600 billion won to build a new precursor plant with an annual capacity of 100,000 tons. The site for the new factory is about 200,000 square meters in the Sepoong Industrial Complex in Gwangyang. 100,000 tons of precursor is enough to make anode materials necessary for the production of 1.2 million electric vehicle batteries.

Precursors are intermediate raw materials for cathode materials, which are core materials for batteries. It processes and manufactures minerals such as nickel, cobalt, manganese, and aluminum. It accounts for more than 60% of the cost of cathode materials, and as the stability of the raw material supply chain becomes more important, the need for domestic production is increasing. According to QY Research Korea, a market research institute, the localization rate of precursors is only 13.9% as of 2020. Most domestic battery materials depend on China for supply. It is an item for which domestic production needs to be further increased in order to secure the competitiveness of the domestic battery industry.

POSCO Chemical plans to expand its precursor production capacity from 15,000 tons this year to 185,000 tons in 2025, raising its own production rate to 67%. In 2021, a joint venture with Huayou Cobalt started to build a precursor plant with an annual capacity of 35,000 tons in China. “We will lead the domestic battery industry by completing the entire value chain of the cathode material business together with Jeollanam-do and Gwangyang, which are actively supporting the establishment of the battery industry ecosystem,” said Min Kyung-joon, president of POSCO Chemical.

https://www.hani.co.kr/arti/economy/marketing/1033855.html