China’s GEM looks to take strategic control of Indonesian nickel & cobalt project

Leading Chinese battery cathode material producer, GEM, has signed a memorandum of understanding (MoU) to double its equity from 36% to 72% in the PT QMB New Energy Materials nickel and cobalt project in Indonesia, to take a controlling stake in the operation, which it has been developing ion partnership with China’s CATL and Tsingshan, among others.

The project, located at the Morowali Industrial park in Indonesia, has a design capacity of 50,000 tpa of nickel and 4,000 tpa of cobalt, and had originally been due to begin commercial production in 2022.

However, since its announcement in . . .


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