Metals firm Sumitomo Metal Mining (SMM) is set to expand its production capacity of lithium-ion cathode materials for electric vehicle batteries.
Plans include establishing a new plant in the Besshi area (Niihama City, Ehime Prefecture) and expanding production capacity at its Harima Refinery (Harima-cho, Kako-gun, Hyogo Prefecture), both in Japan.
The production capacity of cathode material is planned to be 2,000t/month.
The new plant for nickel-based cathode materials will be opposite SMM’s existing cathode material plant.
Overall capital expenditures for both sites will include: 40 billion yen for the new plant and seven billion yen for the Harima Refinery.
Construction work is due to be completed in 2025.
SMM said the production processes will consist of state-of-the-art equipment so the cathode materials can be produced from the start of operation.
In its 2018 three-year business plan, SMM set a goal of reaching a production capacity of 10,000t/month of cathode material by the end of the 2024.
This project is adopted by the country’s Ministry of Economy, Trade and Industry as a “Program for Promoting Investment in Japan to Strengthen Supply Chains.”
SMM will use this grant appropriately in our business to promote the development of Japanese industries.