Days ago, GEM and PT HALAMAHERAPERSADALYGEND (HPAL), a subordinate company of (LYGEND Resources), signed a strategic agreement on purchasing intermediate products of nickel hydroxide, nickel sulfate and cobalt sulfate for power batteries. The signing ceremony, held in the International Conference Hall of Jingmen Park of GEM, was attended by Mr. Cai Jianyong, Chairman of LYGEND Resources, Ms. Fei Feng, Executive Vice President of LYGEND Resources, Mr. Liu Feng, Deputy General Manager of LYGEND Resources, Prof. Xu Kaihua, Board Chairman of GEM, Ms. Wang Min, GEM Director, and Mr. Zhou Bo, Chairman of the Board of Supervisors of GEM.

Chairman Cai Jianyong said at the signing ceremony that LYGEND Resources will adhere to the principle of win-win cooperation and mutual benefits, uphold the customer-oriented principle, improve product quality and service awareness, and better serve the industry.

In his speech, GEM Board Chairman Prof. Xu Kaihua hoped that the two sides would expand and deepen cooperation on the upstream and downstream of nickel resources, enhance the competitiveness of nickel resources in the world market, strive to become a practitioner in the Belt & Road Initiative, and jointly create the world’s leading nickel resource and new energy materials and the whole industrial chain, so as to better contribute to the new energy industry.

LYGEND Resources is a leading company specialized in mining investment and R&D of mineral smelting technology in China. HPAL, as the subordinate company of LYGEND Resources, is located in Indonesia. It is a laterite nickel resource project jointly developed by LYGEND Resources and HARITA of Indonesia. Among under-construction projects in the world that adopt the wet method to smelt nickel raw materials, it will be the first to be put into operation. Relying on the advantages of nickel and cobalt resources on OBI Island, it is able to produce battery-level nickel sulfate and cobalt sulfate for the raw materials of ternary batteries for NEVs.

The strategic nickel raw material purchase agreement with HPAL will effectively guarantee GEM’s strategic demands for nickel resources aroused by the future expansion of production capacity in battery materials. It will also become a powerful supplement to the company’s nickel resource recycling system, further enhance GEM’s supply guarantee ability and core competitiveness in the global ternary battery raw material manufacturing field. It will also help GEM battery material business maintain its global market share and effectively promote GEM to become a ternary power battery material manufacturer with world competitiveness.

Photo 1. GEM and HPAL, a subordinate company of LYGEND Resources, signed strategic agreement of purchase

Photo 2. Chairman Cai Jianyong of LYGEND Resources was speaking