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[Alpha Biz=(Chicago) Reporter Paul Lee] STX, a global general trading company, is going to start its lithium business, which is a key material for secondary batteries.
STX announced on the 14th that it signed a memorandum of understanding (MOU) with Chinese lithium producer Yeongjeong Lithium Battery at the STX building in Jung-gu, Seoul on the 12th for the production and sale of lithium in Korea.
Yeongjeong Lithium Battery is a lithium producer specializing in automotive batteries. It produces 60,000 tons of lithium hydroxide annually.
The two companies will establish a joint venture in Korea and push for domestic sales of lithium hydroxide first. In the future, we plan to establish a lithium hydroxide refining plant for salt-based intermediate materials in Korea and supply them in a stable manner.
STX is planning to take the lead in lithium material upstream by establishing a process ranging from extraction of saltwater lithium to production of refining, refining, and lithium hydroxide.
STX plans to apply the technology of the portrait lithium battery throughout the production process to create high-quality products and secure price competitiveness. It is also planning to supply fine powder products with anhydrous method to improve their completeness. The anhydrous method is a technology that brings the moisture content in lithium hydroxide close to zero, and is known to be more effective in improving productivity while reducing volume than before.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
