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Non-ferrous metals new material becomes the new engine of Jinchuan Group's high-quality development

Updated : November 2, 2022

In recent years, Jinchuan Group has seized the "carbon peaking and carbon neutrality goals" strategic opportunity, actively integrated into the new development pattern, driven industrial upgrading through scientific and technological innovation, continued to deepen the development of new non-ferrous metal materials, overcome a number of key technical problems, and realized the substitution of some imported high-end products. There have been an increasing number of non-ferrous metal new material products made by Jinchuan entering the overseas market.

Battery material industry chain of Jinchuan

Jinchuan Group has been improving and expanding its battery material industrial chain. Nickel cobalt, known as an "industrial vitamin", is a national strategic reserve resource; in addition to being used in stainless steel, super alloys, cemented carbide, electroplating, 3C electronic products and other fields, it is also an important raw material for batteries. Driven by the rapid development of new energy vehicles, the battery material industry has entered a rapid growth stage. Because of its unique advantages in resources, technology and equipment, Jinchuan has become a major engine for Gansu province to develop the battery material industry.

Lanzhou Jinchuan New Material Technology Co., Ltd. is one of the core enterprises in the battery material industry chain in Gansu province. Cobalt trioxide and ternary precursors produced by it are the key materials for lithium cobalate and ternary lithium ion battery anode materials. In recent years, Lanzhou Jinchuan New Material Technology has placed among the top five battery material precursor suppliers in the industry. In 2022, the company's production of ternary precursors is expected to hit 55,000 tons, of which about 20% will be directly exported to Japan, South Korea and other countries, and applied to the new energy vehicles of the world's leading car companies.


The 100,000 ton ternary precursor project [Photo provided to en.jnmc.com]

"It is estimated that the local production capacity of ternary precursor products will increase by 200% by the end of 2023." Wang Shuliang, general manager of Lanzhou Jinchuan New Material Technology, said, "the production of ternary precursors has achieved 100% growth for three consecutive years.”

Jinchuan to achieve import substitution

In 2002, Jinchuan Group established Lanzhou Jinchuan Science and Technology Park Co., Ltd. in order to expand its non-ferrous metal new material industry. Since its establishment, the company has been deeply engaged in the R&D, production and sale of battery anode materials, high-purity metals, precious metal materials, and silver materials, and has overcome many technical problems, and becoming the first company to realize the industrialization of ultra-high purity nickel cobalt copper materials for high-end semiconductor chips in China.

At present, Jinchuan Group's production technology of high-purity nickel, cobalt and copper has caught up with the international level, ranking first in China and third in the world.

New material to become an important support in the "multiplication plan"

In its 14th Five-Year Plan (2021-25) development strategy, Jinchuan Group proposed the "multiplication plan" to achieve the goal of increasing its operating income and industrial output value by the end of 2025.

From January to September this year, Jinchuan Group achieved a total industrial output value of 162.4 billion yuan (about $22.3 billion), up 32% year-on-year. The output of new energy battery related products has also maintained a steady growth, with nickel sulfate, ternary precursor and ternary anode materials increasing by 24%, 9.92% and 102.5% respectively year-on-year. Nickel alloy, precision copper and carbonyl nickel increased by 33.8%, 34.3% and 53.5% respectively year-on-year.

Additionally, the export of new materials in Jinchuan has achieved rapid growth. From January to September, the total export of products was 2.41 billion yuan, including 756 million yuan of new materials, up 42.65% year-on-year.

In 2022, Jinchuan Group saw the commencement of several major projects, including 20,000 tons of high-precision electronic copper tape, 100,000 tons of nickel sulfate solution for power batteries, 30,000 tons of new energy electronic materials copper foil, 30,000 tons of lithium ion battery anode materials, 280,000 tons of nickel sulfate products for power batteries.

Jinchuan Group is also expanding the application of nickel and cobalt in medical metals, new chemical materials, new energy materials, high-end equipment manufacturing and other fields, so as to promote the high-quality development of related industries.

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