GEM Ties Up With EcoPro to Build Indonesian New Energy Material Plant; EcoPro Shares Jump 5%

MT Newswires Live01-06

Chinese battery metal company GEM (SHE:002340) teamed up with its South Korean partner, EcoPro (KOSDAQ:086520), to build a new energy materials production base in Indonesia, according to a Shenzhen Stock Exchange disclosure on Jan. 2.

The plant will produce nickel recourses, precursor and cathode materials that will be marketed in various overseas markets, including Southeast Asia, Europe and the US.

About 200,000 tons of precursor and cathode materials will be manufactured every year, the disclosure added.

EcoPro will provide the manufacturing and production services for the cathode materials, while GEM will provide manufacturing capabilities for the nickel resources and precursors.

EcoPro's shares jumped nearly 5% in recent trade.

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