Nano One SMM LFP collaboration targets global cathode growth

Nano One

The Nano One SMM LFP collaboration is moving into a deeper commercial phase in the global cathode market. Building on successful technical trials and economic modeling, the Nano One SMM LFP collaboration now targets large scale LFP opportunities with strategic customers. As a result, the Nano One SMM LFP collaboration could reshape how low cost, low footprint LFP cathodes enter the EV supply chain.

Nano One SMM LFP collaboration built on technology validation and IP strength

The Nano One SMM LFP collaboration follows extensive validation of Nano One’s proprietary LFP process. Sumitomo Metal Mining gained confidence after positive development work, plant trials and detailed economic analysis. An intellectual property review further strengthened the case for a long term partnership.

Nano One’s technology aims to simplify LFP production, cut process steps and reduce energy intensity. Therefore, it fits growing OEM and cell maker pressure for lower cost, cleaner cathode materials. SMM, as an integrated miner, refiner and CAM producer, can bring scale, funding and industrial discipline.

The partners now plan to pursue concrete LFP production projects with targeted strategic customers. These customers include international automotive groups and battery cell manufacturers already supplied by SMM. Meanwhile, Nano One secures a powerful route to commercialisation without building full scale plants alone.

LFP expansion strengthens SMM’s cathode portfolio

SMM already produces nickel rich cathode materials and added LFP to its product suite in 2022. The Nano One SMM LFP collaboration supports that pivot toward a broader chemistry mix. As EV markets diversify, customers increasingly want both high nickel and LFP options in the same supply relationship.

SMM also holds a 5pc strategic equity stake in Nano One, aligning incentives beyond a standard technology deal. This equity link signals long term commitment to joint LFP development. Therefore, both parties share upside from successful commercial deployment of Nano One’s process.

By 2030, SMM aims to triple overall cathode production capacity from about 60,000 t/yr to 180,000 t/yr. LFP will form a growing share of that volume as cost focused EVs and storage systems expand. The Nano One SMM LFP collaboration can help SMM differentiate on process efficiency and environmental performance in that growth.

The Metalnomist Commentary

This partnership underlines how process innovation is becoming as strategic as raw material access in the cathode business. If Nano One’s technology scales smoothly inside SMM’s manufacturing base, it could tilt LFP cost curves and margins in their favour. Market participants should watch for the first named customer projects and capacity commitments as the clearest proof points.

Sumitomo Metal Mining to Take Full Ownership of Coral Bay Nickel Smelter

Sumitomo Metal Mining (SMM)

Sumitomo Metal Mining (SMM), a leading Japanese mining and trading conglomerate, has announced its intention to acquire the remaining 15.625% stake in Coral Bay Nickel Corporation (CBNC) from Nickel Asia Corporation (NAC). This acquisition will result in SMM holding 100% ownership of CBNC, solidifying its control over this crucial nickel processing facility. Currently, SMM holds an 84.375% share in CBNC.

CBNC: A Key Player in Nickel and Cobalt Production

CBNC, located in the Philippines, is notable for being the first hydrometallurgical metal processing plant in the country to utilize the High-Pressure Acid Leaching (HPAL) process. This advanced technology allows for the efficient extraction of nickel and cobalt from lateritic ores. The smelter boasts a production capacity of 24,000 tonnes per year of nickel and 2,500 tonnes per year of cobalt, making it a significant contributor to the global supply of these critical metals.

Strengthening SMM's Position in the Nickel Market

This strategic acquisition by SMM further expands its presence in the Philippine nickel sector. The company also holds a 75% stake in the Taganito HPAL nickel facility, another prominent HPAL plant in the Philippines. In addition to its Philippine operations, SMM maintains a strong nickel refining presence in Japan with its Niihama Nickel Refinery and Harima Refinery. The move to fully own CBNC reflects SMM's commitment to securing its nickel supply chain and strengthening its position as a key player in the global nickel market. Details regarding the transaction price and timeline have not yet been disclosed.

Sumitomo Metal Mining to Build Japan’s First Nickel Matte Plant

Sumitomo Metal Mining

Sumitomo Metal Mining (SMM), Japan’s leading metals producer, has announced plans to construct a 24,000 t/yr nickel matte plant in Miyazaki prefecture. The facility, to be built at SMM’s subsidiary Hyuga Smelting, marks a significant step in Japan's efforts to secure a domestic supply of critical battery materials. Construction is set to begin in 2025, with commercial operations expected between April 2027 and March 2028.

Nickel Matte: A Critical Link in Battery Material Supply

Nickel matte, a key intermediate product derived from ferronickel, is crucial for producing electrolytic nickel and battery-grade nickel sulphate, both essential for the growing lithium-ion battery sector.

Until now, SMM has relied on imports from its overseas subsidiaries for nickel matte. The new facility will enable the company to source this material domestically from Hyuga Smelting, reducing supply chain risks and enhancing Japan's resource independence.

The project has also garnered strong government support. On December 13, the Ministry of Economy, Trade and Industry (Meti) certified the initiative under its strategic plan to ensure a stable supply of critical metals for battery production. Meti will subsidize the project with ¥13.2 billion ($85 million), covering nearly half of SMM’s total investment of ¥28 billion.

SMM’s Vision for Nickel Production

The nickel matte plant aligns with SMM’s broader strategy to boost its production capacity for nickel products, including electrolytic nickel and nickel sulphate. The company aims to achieve a total annual output of 150,000 t of nickel products by 2030, further solidifying its role in the global battery materials supply chain.

Strategic Implications

As global demand for electric vehicles (EVs) surges, securing domestic production of key battery materials has become critical for nations worldwide. By building its first nickel matte facility, SMM is positioning Japan as a competitive player in the high-stakes race for battery-grade metals. This move also underscores the increasing importance of nickel in achieving sustainable energy goals and advancing EV technology.

SMM and Rio Tinto Forge Ahead with Copper Project Joint Venture in Australia

Sumitomo Metal Mining

Sumitomo Metal Mining (SMM), a prominent Japanese metals producer, is poised to acquire a 30% stake in Rio Tinto’s Winu copper-gold project located in Western Australia's Pilbara region. The companies have signed a term sheet which includes a significant initial investment of $195 million by SMM.

Details of the Deal

The transaction, expected to close in the first half of 2025, marks a substantial step for SMM as it looks to bolster its copper production capabilities. The Winu project, still in the pre-feasibility and environmental approval stages, promises to significantly contribute to SMM’s long-term goal of producing 300,000 tons of copper annually. However, the specific timeline for when copper production will begin remains unclear, with further assessments of the project's output currently underway. The estimated combined resource volume stands at approximately 2.8 million tons.

SMM's strategic interest in the project extends beyond mere ownership; the firm also aims to offtake copper produced at Winu, with discussions about the volume and potential export scenarios ongoing. Exporting to Japan is considered highly likely.

Broader Context

This move aligns with broader Japanese governmental efforts to increase the country's base metal self-sufficiency, which is targeted to reach 80% by 2030. However, recent reports from Japan's Ministry of Trade and Industry (Meti) suggest that the strategy may be lagging behind its targets. To counter these challenges, Meti is enhancing support for domestic companies to expand their copper supply chains globally, including new initiatives in Africa and a strategic partnership with Peru to solidify copper procurement.