LB to invest US$500 mn in lithium phosphate/titanium dioxide capacity in China
Jiaozuo, China-based LB Group is investing US$315.2 million for the construction of a new 150 kilotonne/year lithium iron phosphate production plant at the company’s Xiangyang site in Hubei Province. Lithium iron phosphate is used in lithium batteries to power electric vehicles.
The company will also invest US$157.6 million at the Xiangyang site in the construction of a new 200 kilotonne/year titanium dioxide (TiO2) pigment finishing plant. Two TiO2 pigment finishing lines will be built, each with the ability to process 100ktpa TiO2 pigment intermediate product. Titanium dioxide pigment is widely used in the manufacture of paints, plastics, printing inks and paper.
Meanwhile, almostUS$69.7 million will be invested to double the company’s production of titanium sponge at its site in Chuxiong in Yunnan Province. The site currently produces around 10 kilotonnes/year titanium sponge. Two new chlorinators will provide 200 kilotonnes/year titanium tetrachloride (TiCl4) of which 120 kilotonnes/year will be sold externally, and the rest will be used to help produce 20 kilotonnes/year titanium sponge. Titanium sponge is typically used to make strong, light-weight titanium metal alloys.
Construction at Xiangyang and at Chuxiong is expected to begin in Q1 2022.
LB Group (formerly known as Lomon Billions Group) is a large Chinese chemical company with a strong and expanding global presence. It manufactures a range of chemicals including titanium, zirconium and lithium products that it sells to more than 10,000 customers worldwide. With over 1,000 kilotonnes/year titanium dioxide (TiO2) pigment manufacturing capacity, LB Group is currently the world’s 3rd largest TiO2 pigment manufacturer and 1st in Asia in terms of TiO2 pigment production capacity.
The company manufactures its high-performance TiO2 pigments using both the chloride and the sulphate processes. Its TiO2 pigments are established worldwide. They are key ingredients used to produce an enormous range of products including paints, plastics, inks and paper.
LB Group has been manufacturing TiO2 pigments for over 30 years. It has five established TiO2 pigment production sites in four locations in China: Jiaozuo in Henan Province; Deyang in Sichuan Province; Xiangyang in Hubei Province, and Chuxiong in Yunnan Province. LB Group also owns an ilmenite mine in Panzhihua in Sichuan Province, an important raw material in TiO2 production.
The company’s global headquarters and 12,000 sq m technology centre are located in Jiaozuo. It has regional offices in North America and in Europe. LB Group is listed on the Shenzhen stock exchange (Shenzhen LBG 002601), and is in the process of preparing to list on the Hong Kong stock exchange.
Lomon Billions Group changed its company name to LB Group in July 2021. In September 2021, the company also simplified its TiO2 pigment product branding. All its titanium dioxide pigments are now branded XUELIAN in China, and BILLIONS outside China.