TU-TESL

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According to foreign media reports, AMG announced that AMG lithium GmbH, its German subsidiary, plans to invest 50-60 million US dollars (about 350-420 million yuan) to build a lithium hydroxide refinery in Zeitz Town, Saxony Anhalt, Germany, to produce grade lithium hydroxide products. The plant is scheduled to start construction at the end of the year to supplement AMG's plan to establish an "industrial grade lithium hydroxide plant" in Brazil and to produce battery grade lithium hydroxide using proven technology. To achieve this, AMG lithium GmbH has also established the most advanced lithium hydroxide and battery materials laboratory in Frankfurt Hearst. As a leading key material company in the world, AMG entered the lithium market in 2016 and invested about US $50 million to build a lithium concentrate plant in its existing Brazilian Mira mine. With its existing mining infrastructure in Brazil, AMG aims to become a global low-cost producer of lithium concentrate. This time AMG plans to build a lithium hydroxide processing plant in Germany to produce battery grade lithium salt products with its Brazilian low-cost lithium concentrate, seizing the growing European battery material market. At present, the European new energy vehicle market is booming rapidly, including, Daimler,,, logo and other European main engine plants, which have formulated a long-term development strategy of electrification, and then generate a power battery procurement demand of hundreds of GWH per year in Europe in the next few years, so as to attract Chinese, Japanese and Korean battery enterprises to actively layout the European market. At present, China, Japan and South Korea battery giants including Samsung SDI, LG Chemical, ski, GS tangshallow, etc. have established large-scale power battery factories in Germany, Poland or Hungary, thus providing good development opportunities for lithium battery material enterprises.