China even arrives in Morocco with a huge factory for materials needed for lithium-ion batteries for cars. It will be able to produce manganese, phosphate and cobalt-based semi-finished products for one million vehicles annually.
Term an investment fund controlled by the Moroccan royal family that operates in African territories, for example CNGRThe Chinese group, the world leader in the production of active materials for lithium-ion batteries, announced the signing of a cooperation agreement for Establishing a joint venture in Morocco They will produce Components of lithium-ion batteries For electric cars. CNGR will have control of 50.03% of the capital.
A $2 billion joint venture between CNGR and Al Mada
Al Mada and CNGR plan to develop an industrial base for Transforming natural resources Morocco (especially Cobalt, phosphate And Manganese) in battery components. particularly Cathode active materials predecessorI (PCAM) exploit NCM technology (Nickel – Cobalt – Manganese) e Cathode active materials (CAM) using LFP technology (Lithium – Iron – Phosphate). Industrial base It will include recycling units To recover and reuse metals and materials extracted from used batteries. The site will be built in yellow cliff, In the El Jadida region of Morocco.
The first action of the new joint venture includes the development of (1) production units for active material precursors for NCM cathodes with Annual capacity 120 kilotons(2) LFP cathode production unit with an annual capacity of 60 kilo tons and (3) battery material recycling units with annual capacity From 30 kilo tons.
Semi-finished raw materials for one million cars annually
Production in Morocco Equivalent to 70 gigawatt hours And enough for More than a million electric cars Annually, it will be mainly destined for export, to meet the strong demand in Europe and America.
Business meetings are ongoing between the joint venture and OCP Group To supply useful phosphate products for the project. Morocco has a proven reserve of phosphate amounting to 50 billion tons, equivalent to 71% of the global total. State-owned OCP Group is the world’s largest phosphate exporter and producer. Moreover, Morocco is considered one of the most important of these countries Global producers of cobalt.
Jorf Lasfar enjoys a prime strategic location for this industrial base and will place the project at the forefront of the competitive global battery sector.
with Comprehensive investment With a value exceeding 20 billion Moroccan dirhams (equivalent to 2 billion US dollars), should be the stage of building the industrial base Starting early 2023With the aim of first production of battery materials in 2025.
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Al Mada Company and CNGR will work to ensure this Sustainable production The official uses mostly renewable energy. They will also strive to provide a high degree of… Local integration Precious is allowed knowledge transfer In the region. This investment will enable the development of a new world-class ecosystem that will create both directly and indirectly Thousands of job opportunities.
CNGR is also present in Europe in a joint venture with… Finnish battery. In the Nordic country, it will produce ternary precursors and cathode materials from 2024, using local raw materials such as Nickel sulphate And Lithium hydroxide. The investment in this case amounts to $1.3 billion.