Finnish Minerals Group and Beijing Easpring Material Technology have been investigating and negotiating the possibility to establish a cathode active materials (CAM) plant in Kotka, Finland with an initial capacity of 50,000 t/a and potential for future expansion for the production of cathode active material for lithium-ion batteries. As part of the work, the companies have carried out the definitive feasibility study (DFS) and agreed to continue the cooperation on the plant project.
The mission of Finnish Minerals Group is to responsibly maximize the value of Finnish minerals. The company manages the State’s mining industry shareholdings and strives to develop the Finnish value chain of lithium-ion batteries. In addition, it is engaged in long-term technology development of the mining and battery industry.
Finland is the largest producer of nickel in the EU. It is also the only EU country with its own cobalt production and known resources exceeding 445,000 tonnes. Production of lithium and graphite is also expected to commence in Finland in the 2020s.
Founded in 2001, Beijing Easpring is a developer, manufacturer, and supplier of lithium-ion battery cathode materials. The company was listed on the Shenzhen Stock Exchange in 2010. It currently has production facilities in Changzhou Jintan and Haimen in Jiangsu province.
In preparation for the plant investment, Finnish Minerals Group and Beijing Easpring are looking to set up a joint venture company for the construction and operation of the plant. Finnish Minerals Group is aiming at becoming a minority owner in the joint venture company.
The rapidly growing production of lithium-ion batteries in Europe requires the establishment of a cathode active material industry in Europe. Based on the studies we have carried out together, the production facility planned to be established in Kotka is well set to succeed in the European market both in short and long term. The plant is also an opportunity for Finland to further develop its high technology expertise and create new economic activity in the Kymenlaakso region and beyond. For our company, it is great to partner up with Beijing Easpring, one of the world’s leading producers of cathode active materials for lithium-ion batteries.
Our cathode active material plant in Kotka is a key step for Easpring to carry out global layout. In the future, Easpring will continue to evaluate the feasibility of capacity expansion with the Kotka project, and production establishment possibility in other important regions globally as well.
One of the companies’ next steps is to draw up an environmental permit application for the plant, which they intend to submit in early 2022. In addition, preparatory work in Keltakallio industrial site will soon be started for the establishment of a project office and the earthworks related to the plant.
The main products of Beijing Easpring’s lithium-ion battery materials business include technology research, production and sales of multi-element materials, lithium cobalt oxide and other cathode materials, as well as multi-element precursors and other materials. The company’s application markets include automotive power batteries, energy storage batteries, digital consumer electronics and power tools, electric two-wheeled vehicles and other small power lithium batteries.
The company’s automotive power high-nickel multi-element materials are the first to be mass-produced in China and exported to Japan, South Korea, Europe and the United States in large quantities, and are used in high-end electric vehicles in China and abroad.