The Business Times

China's GEM to build a $500 million joint nickel project in Indonesia

    • The project (not pictured), sited in Indonesia Morowali Industrial Park, will produce 20,000 tonnes per year of nickel intermediate product used in the new energy sector.
    • The project (not pictured), sited in Indonesia Morowali Industrial Park, will produce 20,000 tonnes per year of nickel intermediate product used in the new energy sector. PHOTO: BT FILE
    Published Thu, May 11, 2023 · 05:40 PM

    CHINA’S GEM Co, a battery and material recycler, announced on Thursday (May 11) a US$500 million joint investment to build a nickel project in Indonesia.

    The project, sited in Indonesia Morowali Industrial Park, will produce 20,000 tonnes per year of nickel intermediate product used in the new energy sector, according to the company’s announcement.

    GEM (Wuxi) Energy Materials, a wholly-owned company under GEM, holds a 51 per cent share of the project, Singapore-based Cahaya Jaya Investment holds a 26 per cent share, and Weiming (Hong Kong) International Holdings, an 18 per cent share, the company said. REUTERS

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    nickelIndonesiaChinaMiningEnergy markets

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