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Xiangtan-based Hunan Yuneng New Energy Battery Material Co., Ltd. has announced plans to invest approximately Yuan 24-bn ($3.5-bn) in the Guizhou Yuneng (Wengan) Mine-Chemical Integration New Energy Battery Material Recycling Industry Project, to be built in Wengan County, Guizhou Province.
The project carries a planned construction cycle of around five years, with the company funding it through its own capital and self-raised funds via a newly established wholly owned subsidiary. The company plans to invest between $0.73-bn and $1.17-bn within 18 months of the formal commencement of construction, with subsequent implementation pacing to be adjusted based on market demand to new energy.
The project’s scope includes annual production capacity of 800,000 tonnes of lithium iron phosphate (LFP) and 1,000,000 tonnes of iron phosphate, alongside upstream manufacturing chains covering phosphorus sources, iron sources, lithium carbonate processing, and lithium battery recycling. The complex will also extend upstream into phosphate rock mining and processing, pyrite resources, and sulphuric acid production. The company said the investment was intended to enhance its integrated sector layout and consolidate its leading position in the sector, while flagging risks associated with project construction, financial funding, market demand, and regulation.
Hunan Yuneng sold 1.14 million tonnes of phosphate-based cathode materials in 2025 and has ranked first globally by shipments to six consecutive years, with production capacity reaching about 994,500 tonnes last year at an utilisation rate exceeding 110%.
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