COBCO, a joint venture between Moroccan investment fund Al Mada and China’s CNGR Advanced Materials, inaugurated a cathode precursor plant at Jorf Lasfar in June 2025 with initial capacity of 40,000 tonnes/year of nickel-manganese-cobalt (NMC) precursor. The project has signed a supply agreement with Belgian materials group Umicore and plans to expand to 120,000 tonnes/year of NMC precursor plus 60,000 tonnes/year of LFP cathode material, alongside critical-mineral refining and battery-recycling (black mass) facilities — making it one of the more advanced pieces of Morocco’s emerging integrated battery-materials cluster.
Project Details
Key Issues / Risks
Full capital cost and financing structure not disclosed in available reporting; expansion timeline to 120,000t/yr NMC + 60,000t/yr LFP not yet confirmed with firm dates
Latest Development (Detail)
Plant inaugurated and producing 40,000 t/yr of NMC cathode precursor as of June 2025, with a signed Umicore offtake agreement
What Happens Next
Watch for confirmed timeline on the planned expansion to 120,000t/yr NMC precursor, 60,000t/yr LFP cathode material, and mineral-refining/recycling capacity
Commercial Opportunity
Precursor materials trade, refining/recycling (black mass) capacity build-out, offtake agreements with additional battery makers
Stakeholder Intelligence
Capital & Financing Intelligence
Procurement & Contract Outlook
Commercial Opportunity Intelligence
Connected Intelligence
Analyst Notes
Fewer independent sources available on COBCO versus Gotion; figures should be re-verified against Al Mada/CNGR primary disclosures before publishing