CNGR Advanced Material, Chinese manufacturer of precursors for active cathode materials of lithium-ion batteries, collaborates with Moroccan private investment fund Al Mada to establish a battery materials production and recycling facility in Morocco. The strategic partnership aims to produce ternary CAM precursors for lithium-ion batteries as well as lithium iron phosphate (LFP) and recycle black mass from used batteries. A joint venture has been established between the two companies to advance the project.
Battery material for more than one million EVs per year
Construction is scheduled to begin this year, and phased production is expected to start in the fourth quarter of 2024. The plan is to produce battery material for more than one million electric vehicles per year, with annually 120,000 tons of CAM precursors, 60,000 tons of LFP, and 30,000 tons of black mass recycling.
Negotiations with leading phosphate and fertilizer supplier
CNGR Morocco New Energy, a subsidiary of CNGR, will hold a majority 50.03 percent stake in the joint venture, while Al Mada’s subsidiary NGI will hold 49.97 percent. The joint venture is said to currently be in negotiations with OCP, a leading Moroccan phosphate and fertilizer supply company, to source the highest quality phosphate salts for the production of LFP and ternary CAM precursors from the plant. Morocco is a major global producer of phosphate salts: Its reserves account for 71% of the world total.