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With a total investment of 700 million U.S. dollars, GEM partners with Bangpu and other four companies to establish a nickel resource joint venture in Indonesia

  • Categories:Media Focus
  • Author:
  • Origin:
  • Time of issue:2018-09-21

(Summary description)

With a total investment of 700 million U.S. dollars, GEM partners with Bangpu and other four companies to establish a nickel resource joint venture in Indonesia

(Summary description)

  • Categories:Media Focus
  • Author:
  • Origin:
  • Time of issue:2018-09-21
Information
On September 28, GEM, Qingshan Industrial, Bangpu Recycling, Indonesia Morovalee Industrial Park (IMIP), and Japan Hanwa Industrial Co., Ltd. signed the "On the Construction of Indonesian Laterite Nickel Mine to Produce Battery Grade Nickel Chemicals ( 50,000 tons of nickel metal equivalent/year) project joint venture agreement".
 
  
▲GEM and its partners signing ceremony
 

According to the agreement, the parties to the agreement will establish a joint venture company in Indonesia with a total investment of US$700 million to carry out nickel resource smelting and deep processing, build a world-competitive nickel raw material manufacturing system for new energy power batteries, and build a world-leading power battery raw material manufacturing base. To

The initial goal of the project is to build a wet production smelting capacity of not less than 50,000 tons of nickel metal, 4000 tons of cobalt metal wet smelting capacity, and output 50,000 tons of nickel hydroxide intermediate products, 150,000 tons of battery-grade nickel sulfate crystals, and 2 10,000 tons of battery-grade cobalt sulfate crystals and 30,000 tons of battery-grade manganese sulfate crystals will adjust the product structure and expand the production scale in accordance with the needs of the global market in the future. To

According to the announcement, Jingmen GEM will hold 36% of the joint venture; the Hong Kong entity wholly-owned by Qingshan Industrial will hold 21% of the joint venture; Bangpu Cycle will hold 25% of the joint venture, and IMIP will hold the joint venture 10 % Shares, Japan Hanwa Industries holds 8% shares of the joint venture. To

According to estimates, with the commercialization of new energy vehicles, in 2025, there will be a gap of more than 500,000 tons of global nickel resources. China's nickel resource reserves only account for about 3.0% of the world's nickel resources, but it is a large country using nickel resources. Indonesia is one of the countries with the richest laterite nickel resources in the world. It occupies more than 10% of the world's laterite nickel reserves. The main resources are concentrated in Sulawesi and nearby islands. To

GEM reported in mid-2018 that its ternary power materials business segment has grown rapidly (a year-on-year increase of 98.7%, accounting for 57.54% of total operating income), and its base in Jingmen, Hubei has built 60,000 tons of ternary precursors and materials Capacity. In 2017, its ternary precursor shipments occupies the No. 1 market position in China, mainly supplying CATL and Samsung's supply chain. According to GEM's public information, in 2020, it will form a total production capacity of more than 100,000 tons of ternary precursors and materials, and the demand for nickel resources will be more than 50,000 tons. To

GEM Chairman Xu Kaihua said at the signing ceremony that automotive power has entered the era of high nickel batteries, and the global new energy industry is undergoing a fierce reshuffle. As a result of competition, nickel resource owners will have a dominant voice. Solving the strategic supply of nickel resources is a major event that GEM has been actively working on over the years, and it is also the key to the successful development of GEM's ternary power materials business. The cooperation with industry leaders such as Tsingshan Industrial will help GEM to obtain the strategic supply of nickel resources and stabilize the downstream strategic market. Through the implementation of the Indonesian nickel resource project, GEM will no longer worry about nickel raw materials, and will greatly promote GEM's construction of a global competitive ternary power new energy raw material and material manufacturer.

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