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Released October 11, 2023 | sugar land
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Researched by Industrial Info Resources (Sugar Land, Texas)--Industrial Info is tracking $11 billion worth of U.S. Metals & Minerals Industry projects that are planned to kick off in the fourth quarter. More than one-third of the activity is attributed to a lithium ion-battery cathode material plant, while about $1 billion is attributed to other battery-related projects.
Cathode materials are quickly becoming a key source of investment in the Metals & Minerals Industry as an important component of lithium-ion batteries supporting electric vehicle (EV) production. Cathodes are made up of metal oxides, such as lithium cobalt oxide (NMC) and lithium iron phosphate (LFP) and are responsible for storing and releasing lithium ions during the charging and discharging of a battery. For more information, see October 3, 2023, article - Investments Surge in Cathode Materials.
LG Corporation (Seoul, South Korea) subsidiary LG Chemical Limited is investing $3.2 billion to build a grassroot battery cathode material plant in Clarksville, Tennessee, to supply EV battery plants in the region. The facility is designed to produce 120,000 tons of material by 2027. The project has a "medium" probability (70-80%) of moving forward as planned, according to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database and is expected to kick off by the end of the year. Subscribers to the database can read more in a detailed project report.
Meanwhile, 6K incorporated (North Andover, Massachusetts) and Evans General Contractors (Savannah, Georgia) plan to kick off construction of a battery material-production facility in Jackson, Tennessee. The 120,000-square-foot facility will manufacture a variety of battery chemistries, including LFP, with a production capacity of 13,000 tons per year. 6K will invest $166 million in the plant for construction and equipment, expanding to $250 million in future phases. The company also will use its recently announced $50 million U.S. Department of Energy grant opportunity for the factory, placing the initial combined investment over $200 million. Subscribers can click here to read more information.
Battery recycling is another aspect of EV battery production, as it involves reclaiming materials--such as cobalt, nickel and lithium--used in the batteries.
Among such projects is a $65 million recycling plant addition in Hopkinsville, Kentucky, attributed to a joint venture between SK ecoplant and Ascend Elements (Westborough, Massachusetts). SK ecoplant is part of South Korean conglomerate SK Group. The project entails building a 100,000-square-foot facility to produce 12,000 metric tons of black mass per year and disassemble and shred about 24,000 metric tons of used EV batteries and gigafactory scrap, equivalent to 56,000 EV batteries per year. The facility will support Ascend Elements' nearby Apex 1 plant, which will produce cathode active materials. The project has a "medium" probability of moving forward as planned.
Subscribers can click here to read a detailed project report for the battery recycling plant addition, and click here to read an article on the Apex 1 project and Ascend Elements' other investments as part of a recent overview of the U.S. battery metals market.
Among the non-battery-related projects being tracked by Industrial Info to kick off in the fourth quarter is a $750 cement plant expansion in Odessa, Texas from GCC America LLC, a subsidiary of Mexico-based company GCC SAB de CV (Chihuahua). GCC will construct a new dry rotary kiln line utilizing state-of-the-art technology at the 550,000-ton-per-year cement plant, to increase production by 1 million tons per year and help fulfil the region's growing demand for cement by the oil and gas industry. Click here for the project report.
In addition, Nucor Corporation (NYSE:NUE) (Charlotte, North Carolina) plans to construct two transmission tower-production plants, adjacent to two respective, existing steel sheet mills, for a total combined investment of $240 million. Both will be highly automated and include hot-dip galvanizing operations. An Alabama plant will be supported by Nucor's Decatur sheet steel mill, and the Indiana plant by the Crawfordsville hot steel mill. The projects are expected to kick off by the end of the year, pending final design.
Subscribers can read detailed reports on the Alabama and Indiana transmission tower projects.
In a June 4 press release announcing the Indiana project, Nucor Chief Executive Officer Leon Topalian said the two facilities will position the company to "meet the growing demand for utility infrastructure from renewable energy projects, EV charging network expansion and grid hardening."
Subscribers to the GMI Database can click here to view reports for all of the projects discussed in this article, and click here for the related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
Cathode materials are quickly becoming a key source of investment in the Metals & Minerals Industry as an important component of lithium-ion batteries supporting electric vehicle (EV) production. Cathodes are made up of metal oxides, such as lithium cobalt oxide (NMC) and lithium iron phosphate (LFP) and are responsible for storing and releasing lithium ions during the charging and discharging of a battery. For more information, see October 3, 2023, article - Investments Surge in Cathode Materials.
LG Corporation (Seoul, South Korea) subsidiary LG Chemical Limited is investing $3.2 billion to build a grassroot battery cathode material plant in Clarksville, Tennessee, to supply EV battery plants in the region. The facility is designed to produce 120,000 tons of material by 2027. The project has a "medium" probability (70-80%) of moving forward as planned, according to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database and is expected to kick off by the end of the year. Subscribers to the database can read more in a detailed project report.
Meanwhile, 6K incorporated (North Andover, Massachusetts) and Evans General Contractors (Savannah, Georgia) plan to kick off construction of a battery material-production facility in Jackson, Tennessee. The 120,000-square-foot facility will manufacture a variety of battery chemistries, including LFP, with a production capacity of 13,000 tons per year. 6K will invest $166 million in the plant for construction and equipment, expanding to $250 million in future phases. The company also will use its recently announced $50 million U.S. Department of Energy grant opportunity for the factory, placing the initial combined investment over $200 million. Subscribers can click here to read more information.
Battery recycling is another aspect of EV battery production, as it involves reclaiming materials--such as cobalt, nickel and lithium--used in the batteries.
Among such projects is a $65 million recycling plant addition in Hopkinsville, Kentucky, attributed to a joint venture between SK ecoplant and Ascend Elements (Westborough, Massachusetts). SK ecoplant is part of South Korean conglomerate SK Group. The project entails building a 100,000-square-foot facility to produce 12,000 metric tons of black mass per year and disassemble and shred about 24,000 metric tons of used EV batteries and gigafactory scrap, equivalent to 56,000 EV batteries per year. The facility will support Ascend Elements' nearby Apex 1 plant, which will produce cathode active materials. The project has a "medium" probability of moving forward as planned.
Subscribers can click here to read a detailed project report for the battery recycling plant addition, and click here to read an article on the Apex 1 project and Ascend Elements' other investments as part of a recent overview of the U.S. battery metals market.
Among the non-battery-related projects being tracked by Industrial Info to kick off in the fourth quarter is a $750 cement plant expansion in Odessa, Texas from GCC America LLC, a subsidiary of Mexico-based company GCC SAB de CV (Chihuahua). GCC will construct a new dry rotary kiln line utilizing state-of-the-art technology at the 550,000-ton-per-year cement plant, to increase production by 1 million tons per year and help fulfil the region's growing demand for cement by the oil and gas industry. Click here for the project report.
In addition, Nucor Corporation (NYSE:NUE) (Charlotte, North Carolina) plans to construct two transmission tower-production plants, adjacent to two respective, existing steel sheet mills, for a total combined investment of $240 million. Both will be highly automated and include hot-dip galvanizing operations. An Alabama plant will be supported by Nucor's Decatur sheet steel mill, and the Indiana plant by the Crawfordsville hot steel mill. The projects are expected to kick off by the end of the year, pending final design.
Subscribers can read detailed reports on the Alabama and Indiana transmission tower projects.
In a June 4 press release announcing the Indiana project, Nucor Chief Executive Officer Leon Topalian said the two facilities will position the company to "meet the growing demand for utility infrastructure from renewable energy projects, EV charging network expansion and grid hardening."
Subscribers to the GMI Database can click here to view reports for all of the projects discussed in this article, and click here for the related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
