Chinese battery and materials recycling company Greenbeauty Co., LTD. (" Greenbeauty "or "GEM") has announced the construction of a joint nickel project in Indonesia worth US $500 million.
Greenface announced a $500m joint investment in a 20,000 tonnes per year laterite nickel smelting project in Indonesia.
According to the company's announcement, the project is located in Indonesia's Morovali Industrial Park, and within 10 years of its completion and operation, the average grade of the project will be above 1.0% nickel metal content, ensuring the annual supply of nickel ore of no less than 20,000 tons of nickel metal. At the same time, the joint venture company actively explores other supply channels, and gradually opens up the industrial chain of "nickel-cobalt-manganese sulfate crystal -- ternary precursor -- positive electrode material" in IMIP Park on Grand K Island, Indonesia.
The company said that (Greenbeauty (Wuxi) Energy Materials Co., Ltd. (hereinafter referred to as "Greenbeauty (Wuxi)"), a wholly-owned company under its subsidiary, holds a 51% stake in the project, Cahaya Jaya Investment Pte.Ltd of Singapore. Holds 26% of the shares and Wei Ming (Hong Kong) International Holdings Limited holds 18%.
