- Ganfeng to expand lithium chemical capacity to 85,000 tons
- 65% of global lithium chemical conversion capacity in China
Ganfeng Lithium announced an agreement with Jiangxi Special Electric Motor (Jiangte) to take over the operations and management of three lithium chemical converter plants from October 2020 to March 2023. Ganfeng will pay Jiangte $2.78 million to lease these assets, bearing full responsibility of all losses and revenues.
According to the deal, Jiangte’s three plants total 25,000 metric tons of lithium carbonate capacity, of which 10,000 tons is under construction (5,000 tons of lithium hydroxide capacity is also under construction). Gangfeng currently has lithium chemical refinery plants in Jiangxi with a total capacity of 25,750 metric tons carbonate and 24,000 metric tons hydroxide in operation, with 20,000 metric tons of capacity under construction and 50,000 metric tons planned capacity.
Before this deal, BloombergNEF ranked Ganfeng as the second largest hydroxide producer, after Albemarle. Adding the capacity leased from Jiangte, Ganfeng will become the largest lithium hydroxide producer globally this year.
BNEF Shorts are research excerpts available only on the BNEF mobile app and the Bloomberg Terminal, highlighting key findings from our reports. If you would like to learn more about our services, please contact us.