On the afternoon of September 3, 2023, the signing ceremony for the second phase of the QMB nickel resource project of GEM in Indonesia was held in the international conference hall of the QMB park with great solemnity, launching the "great campaign" of the Indonesia QMB nickel resource project's second-phase construction. Professor Xu Kaihua, Board Chairman of GEM, attended the signing ceremony and delivered a speech. Mr. Peng Yaguang, Deputy General Manager of GEM and General Manager of QMB, signed a strategic cooperation agreement with the construction parties of the project, officially opening the prelude to the "comprehensive construction phase from the design and procurement preparation phase" battle of the second phase of the Indonesia QMB project.

At the signing ceremony, Mr. Peng Yaguang, Deputy General Manager of GEM and General Manager of QMB, signed construction subcontract agreements with construction parties such as the 22nd Metallurgical Construction Group, China Machinery Construction Group, and Weixing Construction. These agreements regulated the cooperation content and responsibility scope of all parties involved in the project, ensuring efficient and orderly project progress. Representatives of the construction parties took the stage and expressed their commitment to work with sincerity and unity, ensuring strict management with high standards and requirements, and making every effort to promote the project construction, thus ensuring the smooth operation of the second phase of the Indonesia QMB project.

"The success of the project must be based on quality and safety and uphold the principle of 'quality first, safety first'," said Chairman Xu Kaihua at the signing ceremony. The centralized signing ceremony marks the start of the "great campaign" of the comprehensive construction phase from the design and procurement stage of the second phase of the Indonesia QMB project. The Indonesia QMB Park and all the construction parties must ensure that the project is completed on time with firm determination and practical plans, and deliver solid engineering achievements for this world-class project, highlighting China-Indonesia cooperation.

In the first half of 2023, QMB achieved a shipment of nearly 10,300 tons of metal nickel in MHP, marking the world's first successful operation and reaching production and energy consumption phase with high-pressure hydrometallurgy technology for Indonesian Lateritic nickel ore. The technology was independently designed, debugged and operated by the company, and the product quality and operational cost are of the world-leading level, becoming a new growth point for the company's profits.

Based on the successful completion and operation of the first phase of the QMB Nickel Resource Project in Indonesia, the company will expand its nickel resource production capacity by 93,000 tons of metal nickel. The total planned production capacity of the nickel resource project will reach 123,000 tons of metal nickel, promoting the upstream and downstream deep cooperation of the green nickel resource industry chain of "green mining-green metallurgy-green application."

Professor Xu Kaihua, Board Chairman of GEM, participated in the signing ceremony

Mr. Peng Yaguang, Deputy General Manager of GEM and General Manager of QMB, signed contracts with construction parties of the project

Professor Xu Kaihua, Board Chairman of GEM, the QMB management team, and representatives of the park construction parties took a group photo