"Bypass the Chasm!" Mirae Advanced Materials Secures Order for 45,000t of Anhydrous Lithium

[Financial News] Mirae Advanced Materials has decided to supply 45,000t of anhydrous lithium to a major domestic cathode material manufacturer.
According to Mirae Nanotech Group on the 31st, the battery material subsidiary Mirae Advanced Materials plans to deliver anhydrous lithium to the company for three years starting from the first half of next year under this contract.
The contract volume of 45,000t is enough to manufacture 170,000t of cathode material. Anhydrous lithium is a high-purity lithium material with moisture removed from ordinary lithium hydroxide, reaching a purity of 99%. It is gaining attention as a key material targeting the high-performance electric vehicle battery market.
To ensure stable supply of anhydrous lithium, Mirae Advanced Materials is pursuing the expansion of drying lines at the Posco Future M Gumi plant, which it acquired in the first half of this year. It is expected that the annual production capacity will increase to over 30,000t, five times the current level, after next year.
Due to the current US-China trade conflict, the demand for alternative materials to Chinese raw materials, including cathode additives, is rapidly increasing. In fact, Mirae Advanced Materials signed long-term contracts to supply cathode additives to domestic and international customers who prefer non-Chinese raw material supply chains in the first half of this year. They are actively negotiating to expand supply to new customers.
A representative from Mirae Advanced Materials stated, "With the full-scale mass production of anhydrous lithium, the ability to respond to domestic and international demand has been greatly strengthened," adding, "Along with the expansion of production capacity in the second half of this year, we will also expand the supply chain of major material groups, including cathode additives, to the global market."

butter@fnnews.com Kang Kyung-rae Reporter