Shanghai (ZXZC)- On Sept. 28, Jiangxi Ganfeng Lithium Co., Ltd. ("Ganfeng Lithium"), one of the world's leading producers of battery-grade lithium, signed a strategic cooperation framework agreement with the municipal government of Yichun city, Jiangxi province to build a lithium ion battery production base and relevant supporting industrial chain projects.

According to the announcement Ganfeng Lithium issued on the same day, the company plans to build a new-type lithium ion manufacturing base with an annual production capacity of 30GWh and a lithium metal project with a designed production capacity of 7,000 tonnes in Yichun Economic & Technological Development Zone.

Photo credit: Ganfeng Lithium

In Fengxin county, the company will invest in a project that focuses on the production of 50,000-tonne battery-grade lithium salt annually and the lithium mining. Besides, it will also build a facility capable of producing 50,000 tonnes of lithium hydroxide per year in Fengcheng, county-level city administered by Yichun city.

Moreover, Ganfeng Lithium and Yichun Mining Co., Ltd. will build a 65/35 joint venture to manage the aforesaid projects.

Under the newly-formed cooperation, the municipal government of Yichun city will put forth its greatest efforts to guarantee the raw materials supply to Ganfeng Lithium. It will publicly assign the raw ores at an appropriate time and allow the joint venture to get the mining right through a public bidding.