Founded in December 2016, China Greatpower Jinchuan is a joint venture between Shanghai Greatpower, Jinchuan Group and an undisclosed new energy industry fund, with Shanghai Greatpower as the majority stakeholder.
The Shanghai-headquartered joint venture purchased
assets belonging to former Chinese cobalt salt producer Zhejiang Galico Cobalt & Nickel Material at a public auction in December 2016 and plans to invest $150 million into the idled operations.
Before halting production, the former Galico plant had an annual capacity of 4,500 tonnes of cobalt contained in cobalt salts and 2,000 tonnes of nickel contained in nickel salts, with products ranging from cobalt sulfate, cobalt chloride and nickel sulfate.
The company expects to reach full production capacity for cobalt salts in August and will begin producing...