GEM announced that its meeting of the board reviewed and approved its plan, agreeing it to sign an investment cooperation agreement on building a new energy material cyclical economny low-carbon industrial park demonstration project, a new energy material, industrial solid-waste comprehensive disposal project and other projects with the municipal goveronment of Jingmen. GEM will add investment of RMB2.8 billion (USD433.16 million) in Jingmen to build an 80,000tpy new-generation ultra-high nickel precursor material and its supporting nickel-coal raw materal system project, a 50,000tpy LFP cathode material project, a 100,000tpy iron (iii) phosphate precursor material project, a 15,000tpy high-purity lithium carbonate project and a 20,000tpy high-purity manganese sulphate crystal and solid waste comprehensive disposal center and thus can create output values of over RMB15 billion (USD2.32 billion).