On the morning of November 13, Dynanonic announced that it has decided to terminate the lithium iron phosphate (LFP) joint venture project with a subsidiary of ICL Group Ltd, valued at 285 million euros (approximately Yuan 2.35 billion). This decision comes just ten months after the agreement was signed.
Regarding the reasons for termination, Dynanonic explained that during the implementation process, changes in internal and external factors such as market conditions, international policies, and the company's strategy have impacted the project's economic viability, resulting in significant uncertainty over its expected returns. To optimize resource allocation and reduce investment risks, the company and its JV partner mutually agreed to terminate the project. Meanwhile, Dynanonic emphasized that it has not yet made any actual capital contribution to the project company, with only some preliminary expenses such as travel and consulting costs incurred.
Edited by Cassie Li, lixiangying@mysteel.com
