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At present, the lithium battery recycling industry in China is still in its early stages of development, and the industrial closed-loop has not yet formed, with relatively slow development. Ouyang Ming stated that it has certain advantages in lithium battery recycling, including existing waste treatment and processing plants and recycling technology

"This project is related to the company's main business and will meet the rapid growth requirements of the company and industry after completion. It is expected to become a new profit growth point for the company in the future. Ouyang Ming said that Ganfeng Recycling Technology Co., Ltd. achieved a profit of 10 million yuan in 2016 and could recover tens of thousands of tons of lithium containing waste materials such as lithium cobalt oxide, lithium manganese oxide, ternary materials, and lithium iron phosphate produced by the positive electrode material industry in 2017."

"In the future, the company will take the path of comprehensive recycling and utilization." Ouyang Ming said, "Not only will rare metals such as lithium, cobalt, and nickel be recycled, but they will also be deeply involved in the field of battery recycling."

In fact, Ganfeng Lithium has always been committed to the comprehensive recycling and utilization of lithium resources. Since its establishment in 2000, Ganfeng Lithium has been synchronously recycling lithium containing wastewater

"The catalyst for pharmaceutical synthesis reaction is an application field of lithium metal. The wastewater generated in the production process of pharmaceutical intermediates contains lithium chloride. Recycling the wastewater containing lithium not only helps customers solve the environmental problems caused by wastewater discharge, but also expands the company's raw material supply channels," Ouyang Ming told reporters

In fact, Ganfeng Lithium Industry is interested in the field of lithium battery recycling not only because of its technological advantages, but also because of its potential market size

It is predicted that 2018 will be a small peak for the recycling of automotive power batteries. At that time, the Chinese power lithium battery waste recycling market will take shape, with a cumulative waste of over 12GWh and a scrap volume of over 170000 tons. The recycling market created by recycling metals such as cobalt, nickel, manganese, lithium, iron, and aluminum will exceed 5.3 billion yuan. By 2020, the cumulative scrap volume of Chinese automotive lithium batteries will reach 200000 tons, The market recycling scale has reached 10.1 billion yuan. With the development of new energy vehicles and the passage of time, the pressure on the recycling of power lithium-ion batteries will continue to increase

Although the potential market size is considerable, the industry development is still not standardized. Ouyang Ming pointed out that there is currently a lack of relevant industry standards in the field of lithium battery recycling. For example, whether the responsible party is a car factory or a battery factory, and what kind of qualifications and licenses are needed, these issues are not yet clear "Nowadays, most of the small workshops in the market are engaged in lithium battery recycling. This disordered development status of the industry can easily cause pollution and resource waste. We call on the country to strengthen the construction of lithium battery recycling standards system and guide the industry to develop faster and better."

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