<article><p class="lead">China's Jiangxi Ganfeng Lithium Battery Technology, a subsidiary of the country's largest lithium salts producer Ganfeng Lithium, plans to invest 8.4bn yuan ($1.3bn) to build two lithium-ion battery production facilities with a combined capacity of 15 GWh/yr. </p><p>The firm will invest Yn3bn to build a 5 GWh/yr power battery plant in in Xinyu city in southeast China's Jiangxi province, which is projected to launch production in October 2023. </p><p>It will also invest Yn5.4bn to establish an industrial park in the Liangjiang new district of southwest China's Chongqing municipality, with 10 GWh/yr of lithium-ion battery capacity, and an advanced battery research institute, which will provide technical support for various solid-state batteries using solid electrolytes and serve as a platform to conduct research and development for the firm and its downstream consumers. The project is expected to start production in 2024. </p><p>Jiangxi Ganfeng had 1 GWh/yr of capacity for lithium iron phosphate batteries as of the end of 2020. </p><p>It produced 15,000t of lithium carbonate, 27,000t of lithium hydroxide and 1,600t of lithium metal in 2020, with plans to more than double its lithium hydroxide output in 2021. It has signed long-term supply contracts with key consumers such as LG Chem, Tesla, Volkswagen and BMW. </p><p>Jiangxi Ganfeng has invested in Australia's Mount Marion and Pilbara Pilgangoora projects, China's Ningdu Heyuan and Ireland's Avalonia spodumene mine, Argentina's Mariana and Cauchari-Olaroz brine resources and Mexico's Sonora lithium clay mine to establish a secure supply chain for feedstock supplies. It buys feedstock mainly from Mount Marion with a capacity of 400,000 t/yr for lithium concentrates. </p><p>Jiangxi Ganfeng has accelerated its investment in feedstock resources this year. It acquired a 35pc stake in the Sal de la Puna lithium project in Argentina from Arena Minerals for $2.8mn in February. It also invested $130mn to acquire a 50pc stake in Australia-based miner Firefinch's Goulamina spodumene lithium mine in Mali in June and agreed to acquire Toronto-listed Millennial Lithium in a C$353mn ($277mn) deal in July.</p></article>
