Home / Media / GEM (002340.SZ): Signed a nickel raw material strategic procurement agreement with HPAL, a subsidiary of Liqin Resources

GEM (002340.SZ): Signed a nickel raw material strategic procurement agreement with HPAL, a subsidiary of Liqin Resources

Time:2020年 09月 03日 Hits:100次

2020-09-02 16:45   

GEM (002340.SZ) announced that the company recently cooperated with Lygend Resources PT HALAMAHERA PERSADA LYGEND (Hereinafter referred to as "HPAL") signed a strategic procurement agreement on nickel hydroxide intermediate products for power batteries and nickel sulfate and cobalt sulfate.


According to the agreement, within 8 years from 2021, Lygend Resources Indonesia’s OBI nickel hydrometallurgy project HPAL plant will cumulatively supply GEM with nickel materials not less than 74,400 tons (by metal content) and not more than 178,560 tons (by metal content); The cumulative supply of cobalt by-products shall not be less than 9,296 tons (based on metal content) and no more than 22,320 tons (based on metal content). Each contract year, the supply will not be less than 9,300 tons of nickel materials and 1,162 tons of cobalt by-products and not more than 22,320 tons of nickel raw materials and 2,790 tons of cobalt by-products (the above quantities are calculated based on the amount of metal).


It is reported that HPAL is located in Indonesia. It is a laterite nickel resource project of Lygend Resources and Indonesia’s HARITA cooperative development. Relying on the advantages of OBI’s nickel and cobalt resources, it produces battery-grade nickel sulfate and cobalt sulfate as raw materials for NCM batteries for electric vehicles. Lygend Resources is a leading domestic mining investment and mineral smelting technology research and development enterprise.


The company stated that the signing of a nickel raw material strategic procurement agreement with HPAL will effectively guarantee the company’s battery material business’s strategic demand for nickel resources from the continuous expansion of production capacity in the future, and become a powerful supplement to the company’s nickel resource recycling system, which will help further enhance the company’s global supply guarantee and core competence in the field of battery material manufacturing, stabilize the company’s battery material business’s global market share, promote the company to build a world-competitive ternary power battery material manufacturing enterprise, and stabilize the company’s battery material business in the next 8 years performance growth expectations.

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