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At the same time, the commencement ceremony was held for the projects of 30000t/a power battery ternary precursor of POSCO New Energy Materials Co., Ltd. and 30000t/a power battery cathode material of PUHUA New Energy Materials Co., Ltd.

The POSCO New Energy Project covers an area of 141 mu, with a total investment of 1.008 billion yuan, and the construction of ternary precursor materials for power batteries with an annual output of 30000 tons. The first phase of the project has an annual capacity of 5000 tons and will be completed and put into operation in August 2019; Puhua New Energy covers an area of 156 mu, with a total investment of 930 million yuan, and is building a 30000 ton power battery ternary cathode material project. The first phase of the project has an annual capacity of 5000 tons and will be completed and put into operation in August 2019.

POSCO New Energy and PUHUA New Energy are two joint ventures established by Huayou Cobalt (603799) and POSCO Group of South Korea at the beginning of this year, which are mainly engaged in ternary precursors and ternary materials.

As the largest supplier of cobalt products in China, Huayou Cobalt's self supply of cobalt raw materials (including local trade acquisition and self owned mine mining) has exceeded 50%, providing a guarantee for the medium and long-term stable supply of cobalt raw materials for future development. Benefiting from the explosion of demand in the ternary power battery market, Huayou Cobalt has also extended its business to ternary precursors and ternary materials in recent years.

At the same time, the commencement ceremony was held for the projects of 30000t/a power battery ternary precursor of POSCO New Energy Materials Co., Ltd. and 30000t/a power battery cathode material of PUHUA New Energy Materials Co., Ltd.

The POSCO New Energy Project covers an area of 141 mu, with a total investment of 1.008 billion yuan, and the construction of ternary precursor materials for power batteries with an annual output of 30000 tons. The first phase of the project has an annual capacity of 5000 tons and will be completed and put into operation in August 2019; Puhua New Energy covers an area of 156 mu, with a total investment of 930 million yuan, and is building a 30000 ton power battery ternary cathode material project. The first phase of the project has an annual capacity of 5000 tons and will be completed and put into operation in August 2019.

POSCO New Energy and PUHUA New Energy are two joint ventures established by Huayou Cobalt (603799) and POSCO Group of South Korea at the beginning of this year, which are mainly engaged in ternary precursors and ternary materials.

As the largest supplier of cobalt products in China, Huayou Cobalt's self supply of cobalt raw materials (including local trade acquisition and self owned mine mining) has exceeded 50%, providing a guarantee for the medium and long-term stable supply of cobalt raw materials for future development. Benefiting from the explosion of demand in the ternary power battery market, Huayou Cobalt has also extended its business to ternary precursors and ternary materials in recent years.

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