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Nornickel invests $30 mln in Battery Technology Center project

The company estimates the demand of the Russian market for cathode active materials at around 10,000 tons per year, while the demand on the global market tops millions of tons

ST. PETERSBURG, September 23. /TASS/. Nornickel has invested $30 mln in the project of a Battery Technology Center, with the amount of future investment depending on the final decision on construction of a full-fledged facility to produce cathode materials for batteries, Nornickel Vice President for Innovations Vitaly Busko told reporters.

"At the moment investment in equipment of the Battery Technology Center totals around $30 mln. The amount of future investment in the project depends on the decision whether we will construct a plant or we won’t," he said.

Moreover, within the project the company has already passed two stages and it is expected decide on construction of a pilot facility on production of up to 10 tons per year of cathode materials, Busko added. "We have passed two stages within the project by now <…>. The construction of a pilot facility for production of 10 tons of materials per year is to become the next stage, while the final stage of the project suggests the construction of a full-fledged plant," he said.

The construction of the pilot facility for the third stage may take from 2 to 2.5 years, Vice President noted. "We are currently considering various locations for potential construction of such a pilot facility, he said.

Nornickel estimates the demand of the Russian market for cathode active materials at around 10,000 tons per year, while the demand on the global market tops millions of tons, Busko stressed.

Norilsk Nickel is a diversified metals and mining company. Its production units are located in the Norilsk Industrial District, on the Kola Peninsula and the Trans-Baikal Territory in Russia, as well as in Finland.