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Greenmee signs Cobalt Raw material Strategic Procurement Chief Glencore will supply not less than 61200 tons of Cobalt Metal
Oct 7,2019 17:31CST
The content below was translated by Tencent automatically for reference.

SMM10, July 7: Greenmei Co., Ltd. (hereinafter referred to as "the Company") and its wholly owned subsidiary Jingmen Greenmei New Materials Co., Ltd., Greenmei (Jiangsu) Cobalt Co., Ltd., Kellick (Hong Kong) Co., Ltd., Greenmei (Wuxi) Energy Materials Co., Ltd. recently signed a strategic procurement agreement with GlencoreInternationalAG (hereinafter referred to as "Glencore") on the procurement of crude cobalt hydroxide intermediates for power batteries and long-term cooperation between the two sides.

Glencore International (LSE:GLEN) is a Swiss company founded in 1974, headquartered in Barr, Switzerland, is the world's largest commodity trader, the main business: integrated commodity manufacturers and marketers, widely engaged in metals and minerals, energy products and agricultural products marketing, production, refining, processing, storage and transport activities. Glencore is the world's largest explorer and supplier of cobalt resources, is a whole-ball mining and commodity exchange giant, listed on the London Stock Exchange, good credit, good performance.

The first half of 2019 was a bumper half year for Greentree. In the first half of 2019, the operating income of Greenmei was 6.2 billion yuan, and the net profit of shareholders of listed companies was 414 million yuan. New energy materials business segment revenue proportion of more than 65%, ternary precursor shipments of 33000 tons, an increase of 170% over the same period last year. 2.5 million sets of electronic waste were disassembled, an increase of 120 per cent over the same period last year.

From the point of view of business organizations, "battery materials (cobalt tetroxide, ternary materials)" is the main source of business income. Specifically, the operating income of "battery materials (cobalt tetroxide, ternary materials, etc.)" is 4.13 billion, accounting for 66.5% of revenue and 23% of gross profit margin.

In 2019, Greenmei looks forward to the layout of new energy materials business, the implementation of quality priority strategy, and actively expand strategic customers. Mainstream supply chain CATL, Samsung SDI and ECOPRO and other international mainstream customers, as well as Rongbai Technology, Zhenhua, Xiamen Tungsten Industry and other domestic mainstream customers. At the same time, multiple specifications of ternary precursors are demonstrated by BYD and LGC. In response to Belt and Road Initiative, the construction of nickel resources in Indonesia to produce battery raw materials industrial park, to build a globally competitive nickel resources new energy materials industry chain. In 2019, Greenmei launched a refinancing project to issue shares to specific targets. The non-public offering has been examined and approved by the China Securities Regulatory Commission, which has injected a strong driving force into the development of the 10 billion circular industry.




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