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(Yicai Global) Jan. 15 -- Chinese chemicals firm Zangge Holding has put its first lithium carbonate plant in western Qinghai province into production to make materials for new energy vehicle batteries.
Zangge has finished the first phase of the project, the Chengdu-based firm said in a statement yesterday. The plant is expected to reach an annual production of 20,000 tons of the product. The factory will achieve its full-speed production mode during the first half of this year.
The company and its partners have developed and applied new technologies to extract lithium from salt lakes in the Qaidam Basin which has low levels of lithium, the statement added.
The total investment is expected not to exceed CNY1.4 billion (USD207.2 million), the parent said in August 2017 when starting the project. The firm planned to use an adsorbent developed by Xianfeng Huizhou New Energy Material Technology.
The project will help Zangge to improve its core competitiveness and profitability, the statement added.
Editor: Emmi Laine