Caixin Global, November 10 - GEM announced that, in order to ensure the strategic demand for nickel resources as the company's overseas production capacity in the battery materials business continues to expand in the future, the company and Vale Indonesia (PTVI) jointly signed a framework agreement for project investment cooperation on November 10, 2024. The two parties will jointly build a nickel resource high-pressure acid leaching green smelter and its supporting infrastructure in Central Sulawesi, Indonesia. This project will process some lateritic nickel ore from a mining area of PTVI and convert it into mixed hydroxide precipitate (MHP) products containing nickel and cobalt that meet market standard specifications, with a target annual production capacity of 66,000 tonnes of MHP in terms of nickel content. Furthermore, the parties will actively consider the development of a cathode and precursor plant.