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Magnis advances plan for German battery plant

30 Jan 2018 16:57 GMT
Magnis advances plan for German battery plant

London, 30 January (Argus) — Australian battery maker Magnis Resources and Germany's Win Emscher-Lippe have agreed to start the first-phase study of a proposed project to build a 30GWh lithium-ion battery facility in North Rhine-Westphalia.

The companies in October unveiled an initial deal to construct the plant. The first phase will include seeking German government support at regional and federal level, as well as choosing a site for the complex. And it will focus on the establishment of a raw material supply chain.

Growth in lithium-ion battery output could raise European demand for battery raw materials, including lithium, cobalt, nickel and manganese. Concerns over rising prices are prompting manufacturers to substitute cobalt and nickel content in batteries, European cathode makers said.

Magnis will hold a 45pc stake in the plant. It also plans to produce lithium-ion batteries in the US and Australia.