Zhejiang Huayou Cobalt Co., Ltd. (often referred to as “Huayou Cobalt” below) was founded in 2002. Huayou Cobalt is a hi-tech enterprise focusing on the nonferrous smelting of cobalt, nickel and copper. The main products include cobalt tetroxide, cobalt oxide, cobalt carbonate, cobalt hydroxide, cobalt oxalate, cobalt sulfate and cobalt monoxide. And the products are used for Li-ion battery cathode material, high temperature and cemented carbide, frits and glazes, rubber adhesive and petrochemical catalysts. Huayou Cobalt is the largest cobalt chemicals producer at present in China.