On the 20th of December, 2024, the ‘GEM-CO’ cobalt brand produced by Jingmen Gem Co., Ltd., a wholly-owned subsidiary of GEM Group, was successfully listed on the London Metal Exchange (LME) as a delivery brand. With an annual capacity of 10,000 tonnes, electrolytic cobalt products produced after 3 July 2024 are ready for delivery at LME. This is another milestone for GEM that its outstanding cobalt products entered the international market after the electrolytic nickel brands "GEM-NI1" and "GEM-NI2" were successfully registered on the LME in November 2023. GEM continuously turns Chinese products into the world brand.

‘ GEM-CO’ Cobalt Brand is Successfully Listed on the LME

LME is the world's largest exchange for non-ferrous metals, with trading varieties covering copper, aluminum, lead, zinc, nickel, and aluminum alloys. Its daily reference prices are widely adopted by the industry as the basis for pricing metal contracts. Its price and inventory changes have a significant impact on global non-ferrous metal production and sales.

The ‘GEM-CO’ brand cobalt products have quickly passed LME verification, indicating that the GEM's cobalt resource production system is widely recognized globally. This demonstrates the company's leading achievements in industry trust, product competitiveness, ESG, and other fields. The brand entering the LME will help GEM reduce trading risks and improve efficiency.

10,000 Tons Key Energy Metal Cobalt Project in Jingmen GEM

The successful registration of the 10,000 tons energy metal cobalt project, with the latest generation of independent innovative electrochemical technology and intelligent equipment, can stably produce metal cobalt sheets that meet the Co9995 grade standard. This is an innovative upgrade of GEM's original metal cobalt sheet project and a deep extension of the company's new energy materials industry chain. This project actively practices the environmental protection concepts of green design, clean production, circular utilization, and emission reduction, greatly enhancing the market competitiveness of the product and making positive contributions to promoting carbon reduction goals.

As the world's leading circular economy enterprise that is ‘Turning rubbish into resources, transforming waste into wealth’, GEM firmly practices the industrial concept of ‘limited resources, unlimited recycling’. We take the lead in mining cobalt resource urban mines and build the world's largest renewable cobalt base. The annual recycling of cobalt resources exceeds 3.5 times China's original cobalt mining output, effectively supporting China's strategic demand for cobalt resources. At present, GEM's cobalt products have a global market share of over 30% and a European market share of over 50%. GEM’ cobalt-based battery "core" material is used by over 20% of smartphones and ternary power battery vehicles worldwide.

So far, the nickel plates and cobalt sheets produced by GEM have been successfully listed as LME delivery brands multiple times, significantly enhancing the international influence of the ‘GEM’ brand and providing continuous development momentum for the company's dual track-driven business model of ‘Urban Mining + New Energy Material Manufacturing".