GEM signs MoU to increase stake in Indonesian nickel project

Chinese battery materials producer GEM has signed a memorandum of understanding (MoU) with partners of its Indonesian joint venture to double its stake in the project, the company said on Monday January 4.

The joint venture, QMB New Energy Materials, was established in January 2019 following investment by Tsingshan Group, GEM, Brunp Recycling, Indonesia Morowali Industrial Park (IMIP) and Hanwa Co to develop a nickel-cobalt project in Indonesia.

Under the memorandum, GEM will purchase shares from Brunp Recycling and Tsingshan Group to increase its holdings to...

Published

Yingchi Yang

January 05, 2021

09:25 GMT

Shanghai