Greenmei joined hands with Korean companies to deploy Indonesian nickel resources

Recently, Grammy announced that the company cooperated with South Korea's ECOPRO and SK ON co-signed a memorandum of understanding
.
The three parties will build a plant in Morowali, Sulawesi, Indonesia, to produce nickel and cobalt
hydroxide.

According to reports, the main product of ECOPRO is the cathode material of power battery, which is currently the world's core manufacturer
of high-nickel ternary cathode materials for new energy power batteries.
SK On is a subsidiary of SK Innovation, a subsidiary of SK Group in South Korea, and has factories
in Europe, the United States, and China to produce batteries for high-energy-density electric vehicles.
Grammy said that this move aims to ensure the strategic demand for nickel resources for the expansion of the company's battery materials business in the future, stabilize the core market in South Korea, promote the entry into the US market, defend the company's market position in the global new energy battery materials field, and achieve the company's long-term goal
of 500,000 tons of precursor sales in 2026.

According to the US Geological Survey, as of 2020, the world's nickel resource reserves are about 94 million tons
.
Among them, Indonesia's resource reserves ranked first, about 21 million tons, accounting for 22%.

Indonesia's nickel ore production is also among the top in the world, with a total global nickel ore output of 2.
51 million tons in 2020, and Indonesia's nickel ore production of 770,000 tons, accounting for 31% of the world's
total output.