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Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":697,"relatedVideos":698},112471549971066,"cff9d32f-4e9d-4b6b-9cd6-63c7439215f5","Ford signs third Chinese agreement this year with Canmax lithium hydroxide deal","ford-signs-third-chinese-agreement-this-year-with-canmax-lithium-hydroxide-deal","article/ford-signs-third-chinese-agreement-this-year-with-canmax-lithium-hydroxide-deal",{"_uid":547,"date":548,"tags":549,"editor":553,"content":563,"excerpt":676,"featured":51,"reporter":677,"_editable":681,"component":682,"seo_title":543,"categories":683,"visibility":689,"author_company":49,"featured_image":690,"seo_description":676,"author_full_name":49,"author_job_title":49,"formattedDate":695,"formattedArticleDate":696},"71cd99d0-fdf8-4340-9702-0d1d6e6b1df7","2023-04-04 00:00",[550],{"slug":551,"name":552},"china","China",[554],{"slug":555,"name":556,"content":557},"didi-bostock","Didi Bostock",{"job_title":558,"image":559,"bio":561,"linkedin":562},"Editor - Energy Transition & Economics",{"filename":560},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":564,"content":565},"doc",[566,573,578,583,598,603,616,629,634,639,644,649,656,661,666,671],{"type":567,"attrs":568,"content":569},"paragraph",{"textAlign":49},[570],{"text":571,"type":572},"Ford has signed its third agreement with a Chinese company in the electric vehicle supply chain this year, securing supplies of lithium hydroxide from subsidiaries of Suzhou-based Canmax Technologies. ","text",{"type":567,"attrs":574,"content":575},{"textAlign":49},[576],{"text":577,"type":572},"The company, which was previously called Suzhou TA&A Ultra Clean Technology, said it could supply around 72,500 tonnes of lithium hydroxide to Ford until the end of the decade. ",{"type":567,"attrs":579,"content":580},{"textAlign":49},[581],{"text":582,"type":572},"At current Chinese lithium hydroxide prices the deal would be worth almost $4 billion, according to Benchmark. ",{"type":567,"attrs":584,"content":585},{"textAlign":49},[586,588,596],{"text":587,"type":572},"The agreement is the latest move from a large global automaker to secure supplies of lithium, and also highlights the ",{"text":589,"type":572,"marks":590},"dominance of Chinese companie",[591],{"type":592,"attrs":593},"link",{"href":594,"uuid":49,"anchor":49,"target":49,"linktype":595},"https://source.benchmarkminerals.com/article/infographic-chinas-lithium-ion-battery-supply-chain-dominance","url",{"text":597,"type":572},"s in the electric vehicle supply chain. ",{"type":567,"attrs":599,"content":600},{"textAlign":49},[601],{"text":602,"type":572},"China is expected to produce almost 80% of global lithium hydroxide supply in 2023, with that percentage set to fall to under 40% by the end of the decade, according to the Benchmark Lithium Forecast. ",{"type":567,"attrs":604,"content":605},{"textAlign":49},[606,608,614],{"text":607,"type":572},"It comes just after Ford agreed last month ",{"text":609,"type":572,"marks":610},"to invest in a",[611],{"type":592,"attrs":612},{"href":613,"uuid":49,"anchor":49,"target":49,"linktype":595},"https://source.benchmarkminerals.com/article/investment-in-indonesian-nickel-diversifies-from-china-as-ford-joins-4-5-billion-project",{"text":615,"type":572}," nickel processing project in Indonesia alongside China’s Huayou Cobalt and Brazilian miner Vale. ",{"type":567,"attrs":617,"content":618},{"textAlign":49},[619,621,627],{"text":620,"type":572},"In February Ford also ",{"text":622,"type":572,"marks":623},"agreed to licence",[624],{"type":592,"attrs":625},{"href":626,"uuid":49,"anchor":49,"target":49,"linktype":595},"https://source.benchmarkminerals.com/article/ford-to-build-3-5-billion-us-lfp-battery-plant-using-catl-technology",{"text":628,"type":572}," lithium iron phosphate (LFP) battery technology from China’s largest battery company CATL. ",{"type":567,"attrs":630,"content":631},{"textAlign":49},[632],{"text":633,"type":572},"It’s not clear how Ford will use the lithium from Canmax, or which region will be supplied with batteries containing the Chinese supply. ",{"type":567,"attrs":635,"content":636},{"textAlign":49},[637],{"text":638,"type":572},"The agreement is for an initial three years, but can then be extended until the end of 2029, Canmax said.",{"type":567,"attrs":640,"content":641},{"textAlign":49},[642],{"text":643,"type":572},"It comes despite requirements in the US Inflation Reduction Act that say critical minerals for batteries cannot be extracted, processed or processed by a “foreign entity of concern” by 2025 if automakers want to be eligible for electric vehicle subsidies. ",{"type":567,"attrs":645,"content":646},{"textAlign":49},[647],{"text":648,"type":572},"Last week the US Treasury said it would not issue further guidance on the provision. ",{"type":650,"attrs":651,"content":653},"heading",{"level":652,"textAlign":49},4,[654],{"text":655,"type":572},"Building capacity",{"type":567,"attrs":657,"content":658},{"textAlign":49},[659],{"text":660,"type":572},"In January Canmax’s subsidiary, Sichuan Tianhua, announced that it had begun pilot production at its lithium hydroxide project in Meishan, Sichuan province, which has a capacity to produce 60,000 tonnes a year. ",{"type":567,"attrs":662,"content":663},{"textAlign":49},[664],{"text":665,"type":572},"CATL, China’s largest battery producer, owns a stake in Canmax as well as its subsidiary Yibin Tianyi Lithium. The two companies are also building a 100,000 tpa lithium carbonate project in Yichun, Jiangxi province.",{"type":567,"attrs":667,"content":668},{"textAlign":49},[669],{"text":670,"type":572},"Canmax previously signed a spodumene supply agreement with AMG in Brazil and has also invested in AVZ, which is developing a lithium project in the Democratic Republic of the Congo. ",{"type":567,"attrs":672,"content":673},{"textAlign":49},[674],{"text":675,"type":572},"It also owns a stake in Australian lithium company Global Lithium Resources.","Ford has signed its third agreement with a Chinese company in the electric vehicle supply chain this year, securing supplies of lithium hydroxide from subsidiaries of Suzhou-based Canmax Technologies. The company, which was previously called Suzhou TA&A Ultra Clean Technology, said it could supply around 72,500 tonnes of lithium hydroxide to Ford until the end […]",[678],{"slug":555,"name":556,"content":679},{"job_title":558,"image":680,"bio":561,"linkedin":562},{"filename":560},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"71cd99d0-fdf8-4340-9702-0d1d6e6b1df7\", \"id\": \"\"}-->","article",[684,687],{"slug":685,"name":686},"ev","EV",{"slug":688,"name":8},"lithium","private",{"id":49,"alt":691,"name":691,"focus":691,"title":691,"source":691,"filename":692,"copyright":691,"fieldtype":693,"meta_data":694,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/b124190c8a/bm-ford-f-150.jpg","asset",{"alt":691,"title":691,"source":691,"copyright":691},"Apr 04, 2023","4th April 2023",[],[],1783682681955]