LS MnM, Full-Scale Entry into Secondary Battery Material Business

Promoting Utilization of Onsan Smelter Site Covering 95,000㎡

On the 26th, the LS MnM board of directors announced on the 27th that they approved an agenda to invest 670 billion KRW in 'EVBM Onsan,' a project to produce secondary battery materials using a 95,000㎡ site adjacent to the Onsan Smelter in Ulsan Metropolitan City. Through this investment approval, the company will actively expand its nickel sulfate business. Together with LS-ELAND F Battery Solution, it will play a pivotal role in establishing LS Group's secondary battery material business ecosystem.

During the EVBM Onsan project, LS MnM will build a complex plant by connecting nickel intermediate mixed hydroxide precipitate (MHP) refining facilities with black mass refining facilities that preprocess used batteries. Through this, it will produce nickel sulfate, cobalt sulfate, and manganese sulfate, which are key precursor materials for secondary batteries. Lithium contained in the black mass will also be recovered through a separate process to produce lithium hydroxide, a major cathode material.

LS executives visiting the LS exhibition hall at the 'InterBattery 2023' exhibition last March. From the fourth person on the left: Do Seok-gu, Vice Chairman of LS MnM; Koo Ja-eun, Chairman of LS Group; Myung Noh-hyun, Vice Chairman of LS Corporation; and Ahn Won-hyung, President /

The nickel sulfate production capacity is 22,000 tons per year based on nickel metal. LS MnM plans to begin full-scale production from early 2027 after starting construction in the first half of next year, completing construction and commissioning in 2026. The plant will be built on a site near the Onsan Smelter to utilize existing Dong Smelter infrastructure and secure cost competitiveness. Additionally, it will enhance competitiveness through the global sourcing network and wet and dry refining technologies secured from its existing refining business.

LS MnM aims to procure primary raw materials that meet the requirements of the U.S. Inflation Reduction Act (IRA) and the European Union (EU) Critical Raw Materials Act (CRMA) to satisfy various customer demands. For recycling raw material procurement, it will collaborate with its subsidiary GRM. It also plans to participate in a specialized fund for preprocessing investments to expand recycling volumes.

The company plans to expand a 40,000-ton complex plant in Saemangeum in the future, producing 62,000 tons of nickel sulfate by 2029, equivalent to about 1.25 million electric vehicles. It also expects synergy with LS-ELAND F Battery Solution, a group affiliate that is promoting the construction of a precursor production plant in Saemangeum. Do Seok-gu, CEO of LS MnM, said, "We will enhance the global competitiveness of the K-battery ecosystem and increase company value through continuous technology development and investment."

This content was produced with the assistance of AI translation services.