Pacific Lithium ups cathode production

By Nick Stride

Friday 18th June 2004

Battery materials maker Pacific Lithium NZ says it will ramp up production of low-cobalt cathode materials at its Auckland manufacturing site to meet rising demand from lithium-ion battery makers.

The company, the operating subsidiary of Ilion Technology Corporation, has been producing low-cobalt cathode materials since 2002.

Its technology substitutes more common and cheaper materials such as manganese and nickel for the price-volatile cobalt used in making lithium-ion batteries for use in devices such as cellphones and laptops.

During the 1990s the price of cobalt fluctuated between $US7 a pound and $US30.

In the last quarter of 2003 it rose from less than $US10 to $US25, and has remained at $US25-30 this year.

The company said its new materials solved another problem with cobalt, its chemical instability at high-charge voltages.

Auckland businessman Murray Haszard owns 43.9% of Ilion's shares.

An article last week stated Ilion had shareholders' funds of $96,668 at December 31, 2003. They were in fact $US6.9 million ($10.9 million). The error is regretted.

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