Ecopro acquires 9% stake in Indonesian nickel factory, investing $11 million - South Korean report

Ecopro, a secondary battery materials company, recently announced that it will invest approximately 11 million dollars (USD, approximately 1,663.35 million yen) to acquire Gelin Mei (GEM), a Chinese battery recycling business, in Indonesia.
announced that it has acquired a 9% stake in a nickel factory operated by Green Eco Nickel, a nickel factory located on the Indonesian island of Sulawesi, produces approximately 20,000 tons of nickel annually.
give birth to The company's subsidiary EcoPro Materials, which develops precursors for battery components, aims to increase annual production to approximately 200,000 tons by 2027. For this purpose,
It is necessary to secure a stable supply of approximately 100,000 tons of nickel per year. Prior to this, EcoPro conducted two visits to QMB, a nickel factory located in the Morowali Industrial Park in Indonesia.
The company had made significant equity investments and secured a nickel supply network. "QMB" has an annual production capacity of 50,000 tons. The nickel that Ecopro procures in Indonesia is used by Ecopro Materials for use in secondary batteries.
EcoPro EM is manufactured as a precursor after changing to nickel sulfate, which is the precursor material, and is jointly invested by EcoPro BM, a major positive electrode material company, and EcoPro BM and Samsung ADI, a major battery company.
It will be supplied to group companies that manufacture cathode materials, such as: