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GEM looks to take strategic control of Indonesian nickel & cobalt project","chinas-gem-looks-to-take-strategic-control-of-indonesian-nickel-cobalt-project","article/chinas-gem-looks-to-take-strategic-control-of-indonesian-nickel-cobalt-project",{"_uid":557,"date":558,"tags":559,"editor":566,"content":576,"excerpt":673,"featured":50,"reporter":674,"_editable":678,"component":679,"seo_title":553,"categories":680,"visibility":688,"author_company":49,"featured_image":689,"seo_description":673,"author_full_name":49,"author_job_title":49,"formattedDate":694,"formattedArticleDate":695},"43f2b4b9-6860-43f0-994d-13144bead46c","2021-01-05 00:00",[560,563],{"slug":561,"name":562},"china","China",{"slug":564,"name":565},"indonesia","Indonesia",[567],{"slug":568,"name":569,"content":570},"matthew-bird","Matthew Bird",{"job_title":571,"image":572,"bio":574,"linkedin":575},"Senior Editor - Supply Chains & Data Visualisation",{"filename":573},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":577,"content":578},"doc",[579,586,591,606,611,616,621,626,633,638,648,653,658,663,668],{"type":580,"attrs":581,"content":582},"paragraph",{"textAlign":49},[583],{"text":584,"type":585},"Leading Chinese battery cathode material producer, GEM, has signed a memorandum of understanding (MoU) to double its equity from 36% to 72% in the PT QMB New Energy Materials nickel and cobalt project in Indonesia, to take a controlling stake in the operation, which it has been developing ion partnership with China’s CATL and Tsingshan, among others.","text",{"type":580,"attrs":587,"content":588},{"textAlign":49},[589],{"text":590,"type":585},"The project, located at the Morowali Industrial park in Indonesia, has a design capacity of 50,000 tpa of nickel and 4,000 tpa of cobalt, and had originally been due to begin commercial production in 2022.",{"type":580,"attrs":592,"content":593},{"textAlign":49},[594,596,604],{"text":595,"type":585},"However, since its announcement in 2018, the project’s development has been hit by numerous setbacks, including delays related to the ongoing COVID-19 pandemic. According to the ",{"text":597,"type":585,"marks":598},"Benchmark Nickel Forecast",[599],{"type":600,"attrs":601},"link",{"href":602,"uuid":49,"anchor":49,"target":49,"linktype":603},"https://www.benchmarkminerals.com/forecasts/","url",{"text":605,"type":585},", the project is set to begin operating in 2022, with an initial production capacity of 10,000 tpa of nickel before ramping close to nameplate capacity later in the decade.",{"type":580,"attrs":607,"content":608},{"textAlign":49},[609],{"text":610,"type":585},"GEM cited a desire to expand its ‘strategic control’ over nickel resources as the rationale behind the decision. It hopes to minimise the company’s exposure to risk associated with both price volatility and supply security as it ramps up its high-nickel precursor and cathode production capabilities, amid expectations of a shortage of battery suitable nickel supply later in the decade.",{"type":580,"attrs":612,"content":613},{"textAlign":49},[614],{"text":615,"type":585},"Despite the coronavirus-driven slowdown in nickel demand from the battery industry in 2020, GEM has moved to secure its long-term nickel supply in anticipation of robust demand growth from the battery industry and expected supply shortages of battery suitable nickel.",{"type":580,"attrs":617,"content":618},{"textAlign":49},[619],{"text":620,"type":585},"In September last year, GEM signed a long-term supply agreement with PT Halmahera Persada Lygend, a joint venture (JV) between China’s Ningbo Lygend and Indonesia’s Harita Group, nickel and cobalt sulphate produced at the JV’s currently under development HPAL plant on Obi Island, Indonesia.",{"type":580,"attrs":622,"content":623},{"textAlign":49},[624],{"text":625,"type":585},"Starting from 2021, GEM will purchase between 74,400 and 178,560 tonnes of nickel contained in sulphate over an eight-year period – equivalent to between 9,300 and 22,320 tonnes per annum.",{"type":627,"attrs":628,"content":630},"heading",{"level":629,"textAlign":49},4,[631],{"text":632,"type":585},"Cathode demand trends to support nickel growth",{"type":580,"attrs":634,"content":635},{"textAlign":49},[636],{"text":637,"type":585},"While nickel and cobalt free LFP (lithium iron phosphate) cathode technology has undergone a renaissance in 2020, driven in large part by cost imperatives and technological improvements, GEM’s announcement is a further vote of confidence for NCM’s (nickel, cobalt, manganese) future as the pre-dominant cathode technology for automakers.",{"type":580,"attrs":639,"content":640},{"textAlign":49},[641,646],{"text":642,"type":585,"marks":643},"Benchmark’s Nickel Forecast",[644],{"type":600,"attrs":645},{"href":602,"uuid":49,"anchor":49,"target":49,"linktype":603},{"text":647,"type":585}," shows that the share of demand for NCM cathodes will increase from 46% of the cathode market in 2020 to 78% in 2030, during this time nickel demand from the lithium ion battery industry is set to increase almost 20x.",{"type":580,"attrs":649,"content":650},{"textAlign":49},[651],{"text":652,"type":585},"For cathode and battery cell producers alike, as the battery industry increasingly transitions towards nickel-rich cathode chemistries, direct upstream investment is proving critical to both ensuring a secure and reliable supply of nickel and reducing raw material costs.",{"type":580,"attrs":654,"content":655},{"textAlign":49},[656],{"text":657,"type":585},"While, to date, investments in Indonesia have largely been the sphere of Chinese companies, BASF and Eramet signed an agreement to jointly assess the development of a hydrometallurgical nickel-cobalt refining complex in Indonesia in December. The complex would include an HPAL plant located in Weda Bay, to produce 42,000 tpa of nickel contained in an intermediate, and a separate Base Metals Refinery (BMR) targeting precursor and cathode material production.",{"type":580,"attrs":659,"content":660},{"textAlign":49},[661],{"text":662,"type":585},"Following the completion of the feasibility study, if a decision is taken to proceed with the project, the two companies are targeting a start-up of both the HPAL and BMR by the mid-2020s, providing BASF with stable access to nickel and cobalt raw materials as it ramps up high-nickel cathode production over the coming decade.",{"type":580,"attrs":664,"content":665},{"textAlign":49},[666],{"text":667,"type":585},"Furthermore, Indonesia has recently attracted investment from South Korea’s LG Energy Solutions, LG Chem’s spin-of battery business, as key stakeholders in the supply chain look to capitalise on the region’s significant mineral resources. Tesla are also said to be weighing up an investment in Indonesia.",{"type":580,"attrs":669,"content":670},{"textAlign":49},[671],{"text":672,"type":585},"However, questions remain over environmental risks associated with nickel mining in Indonesia. In particular there are concerns relating to coal fired power plants used to power nickel operations, which is unlikely to change in the medium term, deforestation impacts, and the ongoing questions surrounding tailings at HPAL plants.","Leading Chinese battery cathode material producer, GEM, has signed a memorandum of understanding (MoU) to double its equity from 36% to 72% in the PT QMB New Energy Materials nickel and cobalt project in Indonesia, to take a controlling stake in the operation, which it has been developing ion partnership with China’s CATL and Tsingshan, […]",[675],{"slug":568,"name":569,"content":676},{"job_title":571,"image":677,"bio":574,"linkedin":575},{"filename":573},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"43f2b4b9-6860-43f0-994d-13144bead46c\", \"id\": \"\"}-->","article",[681,683,686],{"slug":682,"name":115},"cobalt",{"slug":684,"name":685},"critical-minerals","Critical Minerals",{"slug":687,"name":151},"nickel","private",{"id":49,"alt":690,"name":690,"focus":690,"title":690,"source":690,"filename":691,"copyright":690,"fieldtype":692,"meta_data":693,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/cefc68f5b4/bm-morowali.jpg","asset",{"alt":690,"title":690,"source":690,"copyright":690},"Jan 05, 2021","5th January 2021",[],[],1789748872692]