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38 billion!

 Last Update: 2022-05-25
 Source: Internet
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Recently, Ningde Times (300750) issued an announcement stating that Prokin Times, a subsidiary of Guangdong Bangpu, a holding subsidiary, plans to invest in the construction of a power battery industry chain project with partners ANTAM and IBI in Indonesia.

Source: Ningde Times Announcement

The partners are all Indonesian state-owned companies

The announcement shows that the two partners in the project are Indonesian state-owned companies, which is undoubtedly a very safe escort for the development of the project
.

ANTAM: is an Indonesian listed state-owned mining company engaged in the mining of various types of minerals, as well as industry, trade, transportation and services related to the extraction of various types of minerals
.

The controlling shareholder is MIND ID, an Indonesian state-owned mining company, which holds 65% of ANTAM; the actual controller is the Ministry of Finance of the Indonesian National Government
.

IBI: It is an Indonesian state-owned company.
It is an investment company newly established by Indonesia National Petroleum Corporation, National Electric Power Company, National Mining Company and related parties to carry out battery production.
It mainly invests in battery and related industrial chain projects in Indonesia and overseas
.

　　Indonesia's state oil company Pertamina holds 25%, Indonesia's state power company PLN 25%, Indonesia's state mining company MIND ID 25%, and ANTAM 25%
.

　　Make efforts to ensure the stability of the upstream supply chain

　　From the perspective of construction projects, the Indonesian project focuses on nickel ore resources and battery recycling, which means that CATL has begun to re-examine the field of nickel raw material and power battery recycling, and has expanded the scale of its layout
.

　　There must be a boost to the "epic" market breakout in LME nickel futures last month
.
Superimposing the trend of high nickel and low cobalt in ternary batteries for new energy vehicles in the world is not only the Ningde era, but also the control layout of all parties on nickel resources is also further increasing
.

　　The industry predicts that by 2025, the global power ternary battery will account for about 50%, of which high-nickel ternary batteries will account for more than 83%, and the proportion of 5-series ternary batteries will drop to below 17%
.
The demand for nickel will also increase from 66,000 tons in 2020 to 620,000 tons in 2025, with an average annual compound growth rate of 48% in the next four years
.

　　According to forecasts, the global demand for nickel for power batteries will also increase from less than 7% at present to 26% in 2030
.

　　CATL chose Indonesia because Indonesia has about 21 million tons of nickel reserves (proven land-based deposits)
.
It accounted for 22%, ranking the top two in the world
.
China's nickel reserves of about 2.
8 million tons account for 3%, and it is heavily dependent on imports
.

　　China is a big nickel consumer, and new energy vehicles are a new growth pole for nickel consumption.
It is reasonable for CATL to make efforts to ensure the supply of key upstream resources and raw materials and reduce the company's production costs
.

　　In fact, the layout of nickel resources in Indonesia by CATL was not achieved overnight
.
In 2020, it has reached an agreement with the Indonesian government to set up a factory, and will obtain rich local nickel resources
.
In January 2021, through Guangdong Bangpu, it indirectly held a 10% stake in Indonesia's Qingmeibang.
The Qingmeibang project has an annual production capacity of 50,000 tons/year of nickel metal and 4,000 tons/year of cobalt metal
.

　　Now, CATL has once again reached a cooperation with an Indonesian state-owned company to continue to increase the mining and production of nickel resources.
The continuous growth of its power battery production capacity has created a huge demand for nickel raw materials
.

　　In terms of power battery industry chain companies, in addition to CATL, LG New Energy, GEM, Huayou Cobalt, Zhongwei, Tsingshan Group, China Molybdenum, Shengtun Mining, Dow Technology, Weiming Environmental Protection and other power battery industries Chain companies are also accelerating the development of nickel resources in Indonesia, and it is expected that more companies will join the battle for nickel resources in the future
.

　　OEMs speed up "hoarding" lithium

　　On Saturday, Tesla CEO Elon Musk tweeted, “Lithium prices have reached crazy levels right now, and Tesla may have to get into large-scale mining and refining, or the costs will increase dramatically
.
” Musk It is emphasized that there is no shortage of lithium ore resources, the problem is that the speed of mining and refining is too slow
.

　　It can be seen that ensuring a stable supply of raw materials has become an important proposition for Tesla to reduce manufacturing costs, and this time Tesla is trying to penetrate the upstream lithium resources
.

　　In terms of lithium salts and spodumene, from 2018 to March 2022, Tesla has signed agreements with lithium salt and lithium mining companies such as Ganfeng Lithium, Yahua Group, Piedmont Lithium, Core Lithium, Liontown Resource, etc.
3 to 5 year supply agreement to supply lithium hydroxide and spodumene concentrates
.

　　In terms of nickel resources, Musk has already stated that he wants to "hoard nickel", and his actions are always fast, ruthless and accurate
.
Since 2021, Tesla has successively signed multiple contracts with a number of mining companies including Australian mining giant BHP Billiton, French New Caledonia mining company Prony Resources, Brazil’s Vale, Canadian mining company Giga Metals, and American miner Talon Metals.
A long-term supply agreement for nickel concentrate
.

　　At the same time, based on their respective sales goals for electrification transformation, more and more OEMs around the world are planning to produce their own batteries, and in parallel to accelerate the "stocking" of lithium, they are also committed to building an independent supply system for all aspects of power batteries
.

　　In April 2017 and 2022, OEMs such as Volkswagen, BMW, GM, Ford, Toyota, Stellantis, Great Wall, SAIC, GAC and other OEMs mainly locked the upstream high-quality lithium salt/lithium concentrate capacity by signing long supply orders
.
The specific layout is shown in the following table:

　　Promote the power battery recycling industry

　　Among the 6 sub-projects of CATL's Indonesian project, three of them are the layout of battery recycling.
It is not difficult to see that they value and optimistic about battery recycling
.

　　The industry expects that China will begin to usher in the large-scale retirement of power batteries in 2022
.
Europe and the United States will not have large-scale retirement of power batteries until 2027
.
From 2022 to 2035, China will occupy more than half of the global market for recycled power batteries
.

　　As early as 2013, Ningde Times has been involved in the battery recycling business through the acquisition of Hunan Bangpu
.
At present, Hunan Bangpu has become the largest waste battery recycling base in China.
The total amount of waste batteries recycled and processed annually exceeds 6,000 tons, and the annual production of nickel cobalt manganese hydroxide (ternary precursor), nickel cobalt manganese lithium (ternary material) ), lithium cobalt oxide, cobalt chloride, nickel sulfate, cobalt sulfate and cobalt tetroxide up to 4,500 tons
.

　　In addition, GEM, another giant in battery recycling, has always maintained a good cooperative relationship with Guangdong Bangpu, and GEM is also one of the suppliers of CATL
.
That is to say, CATL has brought in two capable leaders in the field of battery recycling
.

　　Summarize

　　It is foreseeable that as enterprises in the power battery industry chain, OEMs, commodity traders and other enterprises accelerate the deployment of upstream lithium resources, the competition for global lithium resources will accelerate in the future
.
In this context, only companies with technology, scale expansion capabilities, and strong financial strength can "break through" successfully!

　　Original title: 38 billion! CATL builds 6 overseas power battery projects

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