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Posco breaks ground

Posco Holdings has held the groundbreaking ceremony for the first lithium hydroxide factory in South Korea, at the Yulchon Industrial Complex in South Jeolla province. The company will invest over $450 million up to completion in 2025. It will be able to produce about 25,000 tonnes/year, enough for some 600,000 electric vehicles.

Yulchon is already home to the Posco Future M subsidiary’s cathode material facility. A lithium ore plant is also being built there and it will eventually host a secondary battery material facility.

Allkem and Livent to merge

Global lithium chemicals companies Allkem and Livent have reached a definitive agreement to combine in an all-stock merger of equals valuing the combined company at $10.6 billion. The agreement is expected to close by the end of 2023. Allkem and Livent shareholders will hold about 56% and 44% respectively of the stock.

Nobian and Vulcan in lithium partnership

Vulcan Energy Resources and Nobian have announced today that they have signed a term sheet for a proposed strategic partnership aiming to jointly develop and operate a lithium hydroxide plant for electric vehicle batteries in Germany. This builds on 15 months of collaboration between the two firms but is not legally binding on the two parties in most respects.

Albemarle plans ‘Mega-Flex’ facility

Albemarle has announced plans to locate its previously announced lithium hydroxide ‘Mega-Flex’ facility in Chester County, South Carolina. The initial investment will be at least $1.3 billion, due to surging demand for electric vehicles (EVs) and lithium-ion batteries worldwide.

Pending permitting approvals, the facility will be located within an area of about 320 hectares. It is projected to create more than 300 new, permanent jobs and sustain more than 1,500 construction jobs.

Albemarle plans lithium park

Albemarle has acquired a location in Charlotte, North Carolina, where it will invest at least $180 million to establish the Albemarle Technology Park (ATP), aided by a $13 million incentive package from the state of North Carolina. The company expects to move in by early 2025 and complete of the campus by late 2026.

Livent completes lithium hydroxide expansion

Livent has opened what will be the first of several major expansions of its operations around the world Bessemer City, North Carolina. The company has increased lithium hydroxide production capacity by 50% to address growing demand for electric vehicle battery materials. The company added aided by long-term growth opportunities and downstream incentives from the recently enacted Inflation Reduction Act, which encourages use of lithium produced or processed in North America.

Livent to supply GM

Livent has signed a sourcing agreement, under which it will supply General Motors (GM) with battery-grade lithium hydroxide for six years from 2025. GM intends to use this in its battery cathodes, which will power electric vehicles such as the recently revealed Chevrolet Blazer EV (pictured), Chevrolet Silverado EV, GMC Hummer EV and Cadillac Lyriq.

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