Cosmo Chemical Invests 15.9 Billion KRW in New Lithium Carbonate Production Facility

[Asia Economy Reporter Lee Jung-yoon] Cosmo Chemical announced on the 21st that it has decided to make a new investment in lithium carbonate production facilities worth 15.9 billion KRW.

This corresponds to 5.25% of its equity capital, and the investment period is from today until December 31.

The company explained, "In addition to nickel and cobalt extraction within the used battery recycling business, we aim to maximize profitability by early entry into the lithium extraction business, whose prices are rapidly rising due to recent supply-demand imbalances."