Jiangxi Copper will invest CNY11.4bn ($1.76bn) to produce 100,000mt of copper foil annually to be used in lithium batteries.
The project will be located in the Shangrao Economic and Technological Development Zone in Jiangxi and will be divided into two 50,000mt phases, noted media reports on Jul 15. The first half of Phase 1 is expected to begin by H2 2023 and will reach full production by the following year, while Phase 2 is expected to start by late 2028.
Jiangxi Copper stated to the media on Thursday that it intends to invest in two other copper projects worth CNY800mn and CNY600mn respectively, to manufacture 220,000mt of rods and 30,000mt of cast material. Jiangxi’s third investment of cast material will be a joint venture.
The total estimated investment values across all three plans will be about CNY12.8bn. Jiangxi plans to produce the copper rods and Phase 1 of 15,000mt worth of cast material at the Shangrao unit with an anticipated launch schedule of H2 2022.
($1=CNY6.48)