GEM issued an announcement yesterday to disclose the progress of the construction of nickel resource projects in Indonesia. According to the announcement, the GEM Indonesia nickel resource project is located in the IMIP park in Indonesia, with a total planned construction of 1230,000 tons of nickel metal hydrometallurgical capacity per year. Among them, GEM Holdings has a production capacity of 930,000 tons of nickel metal per year, and the production capacity of the joint venture with Indonesian MDK company is 300,000 tons of nickel metal per year. GEM said in the announcementThe foundation works of the Indonesian nickel resource project currently under construction have been completedThree modules (2. each) will begin in June 202410,000 tons of nickel metal per year) will be completed and put into production in batches during the year. 3. Joint venture with MDK in Indonesia00,000 tons of nickel metal The annual production capacity will be completed and put into operation in September 2024.
A feast of nickel resource cooperation was stagedIt is understood that nickel is a key mineral resource for new energy. Under the trend of global new energy ternary power batteries developing in the direction of high nickel and low cost, Gremei, as the global ternary precursor leader, is also actively building an independent and controllable new energy industry chain. In recent years, GEM has continuously combined the advantages and resources of all parties and staged one feast of cooperation around nickel resources. In November 2022, GEM announced that it had signed a memorandum of understanding with South Korea's EcoPro and SK ON to establish a joint venture company, HPAL, in Indonesia to build a hydrometallurgical plant in Indonesia. In May 2023, GEM (Wuxi) signed an agreement with CAHAYA and Weiming (Hong Kong) International Holdings, under which the parties agreed to jointly invest in the construction of laterite nickel ore hydrosmelting with an annual output of 200,000 metal tons of nickel raw materials for new energy (nickel intermediates). In September 2023, GEM Hong Kong, Xinzhan International and GEM Singapore, both subsidiaries of Tsingshan Industrial, signed a joint venture agreement with MBM's wholly-owned subsidiaries and target companies to jointly build a 30,000-tonne-year laterite nickel ore hydrometallurgical plant in Indonesia. In January 2024, GEM signed a "Memorandum of Understanding on Strengthening Cooperation in the Research and Development of Nickel Products and Power Battery Material Processing Technology" with Anglo American Group, a wholly-owned subsidiary of Anglo American Group. With the advancement of nickel resource layout, GEM has further improved the industrial chain layout of ternary precursor-cathode materials, thereby meeting the needs of the European market and the global market, and creating a world-competitive nickel raw material manufacturing system for new energy. According to the plan,GEM Nickel will achieve a resource self-sufficiency rate of more than 70% by 2025 and 100% complete self-sufficiency after 2027In order to ensure the realization of the long-term goal of 500,000 tons of precursor sales in 2026.
Accelerate the international layoutAt present, GEM adheres to the dual-track driven industrial strategy of "new energy material manufacturing + urban mining", and actively builds an independent and controllable new energy industry chain. In addition to new energy materials, GEM is also simultaneously promoting the internationalization of the battery business. In May 2022, GEM and the Consulate General of Hungary in Shanghai signed a memorandum of cooperation on the investment in the production of high-nickel precursors for new energy vehicles and the recycling of scrapped power batteries.
In July 2022, GEM Global Depositary Receipts were officially listed and traded on the Swiss ** Exchange, and will also provide financial support for the construction of its European project and accelerate the pace of international layout.
In January 2023, GEM announced plans to deploy power battery factories in Europe, and plans to continue to invest in the battery utilization industry in the United States and Indonesia.
GEM said that the company is actively developing a global layoutBy 2026, the power battery volume is planned to reach more than 300,000 tons, becoming the world's leading power battery and lithium-nickel-cobalt resource company. In recent years, with the dynamics of the European electrification market, its battery manufacturing industry has grown significantly, and a number of new regulations such as the EU Battery and Waste Battery Law and the Critical Raw Materials Act have also been introduced. Among them, the EU Battery and Waste Battery Law stipulates the proportion of raw materials in battery products sold in Europe, and requires that the scrapped old batteries of new energy vehicles sold must be transported back to the automobile production site for processing. The Critical Raw Materials Act proposes that the EU should extract 10%, *15% and process 40% of its annual demand for 16 "strategic raw materials" by 2030. Dr. Carolin Kresse of the German Raw Materials Agency believes that European battery** capacity is expected to grow to 80GWh by 2030, driven by new regulations. This will further promote the layout of battery companies in Europe and accelerate the landing of overseas projects.