Daebo Magnetic Secures Initial Order for Deironing Equipment from Chinese Secondary Battery Company... "Main Contract Imminent"

Daebo Magnetic, the global No.1 specialist company in electromagnetic iron removers (EMF), recently signed an EMF supply contract with POSCO Future M and is accelerating its overseas exports. On the 8th, Daebo Magnetic announced that it successfully secured the initial order of iron removers for Company A, a global top-tier secondary battery company based in China. Following the delivery of this initial order, a large-scale main contract for iron removers with Company A is expected to proceed.

Over the past five years, Daebo Magnetic has been supplying iron removers to Company A and has signed an initial supply contract for large-scale exports based on its excellent quality competitiveness. Company A produces and processes various key battery minerals such as ternary precursors and nickel, which are core materials for lithium-ion batteries. Company A supplies battery materials in collaboration with global automobile manufacturers such as Tesla, BMW, and Volkswagen.

Through this order, Daebo Magnetic will supply high-performance dry iron removers to Company A. Dry iron removers play a role in removing iron from powder forms such as lithium mines and precursors. Daebo Magnetic possesses proprietary technology capable of removing trace amounts of iron contained in secondary battery cathode materials. Based on its differentiated technological capabilities, it has successfully secured customers including Samsung SDI, LG Chem, EcoPro BM, and China's BYD.

Daebo Magnetic’s iron removers are used in the production of high-spec batteries by European secondary battery cell makers through Chinese cathode material manufacturers. Chinese companies are establishing large-scale production bases in Morocco to respond to the European Critical Raw Materials Act (CRMA). Morocco has signed Free Trade Agreements (FTA) with the European Union (EU) and the United States, making it subject to CRMA and IRA, and products from Morocco are recognized as produced within the EU.

A Daebo Magnetic official stated, “We have been continuously supplying iron removers to Company A, which is receiving the initial order this time, so the large-scale main contract is expected to proceed smoothly. As Chinese secondary battery companies that have recently established production bases in Morocco are preparing for full-scale cathode material production, demand for high-performance iron removers is rapidly increasing, and we expect the order momentum to continue.”

He added, “Exports of iron removers are expanding not only in Morocco but also in Indonesia due to the rapid increase in electric vehicle demand. We are currently discussing additional orders with secondary battery-related companies in China, so we expect significant growth in performance starting this year.”

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