GEM to expand investment in Indonesia precursor project
2025-10-15 11:46:27 [Print]
On October 13, GEM Co., Ltd. signed an agreement through its subsidiaries with Eternal Oasis Hong Kong Investment Limited, PT Merdeka Energi Utama (MDK), PT Bintang Delapan Harmoni (BDH), Jiangsu Azure Corporation, and other investors to increase capital and expand equity in PT Indonesia Qingmei Energy Materials, bringing in new strategic partners.
After the deal, GEM will hold 29.59% of Indonesia Qingmei, Eternal Oasis 32.52%, MDK 11.16%, BDH 8.93%, Azure 5.95%, with the rest held by other investors.
Indonesia Qingmei has built production lines with annual capacities of 20,000 metal tonnes of nickel sulfate crystal, 3,600 metal tonnes of cobalt sulfate crystal, and 50,000 tonnes of high-nickel ternary precursors. After the deal is completed, it will also gain access to 12,630 metal tonnes per year of nickel MHP production. The investment will help the company establish a complete downstream nickel chain from MHP to nickel sulfate to high-nickel ternary precursors.
After the deal, GEM will hold 29.59% of Indonesia Qingmei, Eternal Oasis 32.52%, MDK 11.16%, BDH 8.93%, Azure 5.95%, with the rest held by other investors.
Indonesia Qingmei has built production lines with annual capacities of 20,000 metal tonnes of nickel sulfate crystal, 3,600 metal tonnes of cobalt sulfate crystal, and 50,000 tonnes of high-nickel ternary precursors. After the deal is completed, it will also gain access to 12,630 metal tonnes per year of nickel MHP production. The investment will help the company establish a complete downstream nickel chain from MHP to nickel sulfate to high-nickel ternary precursors.
Nickel Sulfate Ni 22%min; Co 0.4%max Delivered China
Unit:RMB/mt
China nickel sulfate producers' number MoM output increase statistics by province by month
Unit: pcs
