GEM again breaks records in nickel and cobalt self-supply

GEM Co., Ltd. reported operating revenue of 27.5 billion yuan (387 million US dollars) in the first nine months of 2025, up 10.55% YoY. The company's Indonesia nickel project (including equity capacity) shipped 79,916 tonnes of nickel, surging 151% YoY, supporting its annual output guidance of 120,000 tonnes. Q3 shipments hit a record high of 35,939 tonnes, averaging nearly 12,000 tonnes per month and 400 tonnes per day.

The project also produced 6,534 tonnes of cobalt, helping offset the six-month export ban in the Democratic Republic of the Congo. GEM further recovered over 6,000 tonnes of cobalt to strengthen supply security in China and globally.

In addition, the company shipped 5,590 tonnes of recycled tungsten (in WC equivalent) in the first three quarters, up 22% YoY, more than 120,000 tonnes of nickel-cobalt precursors, and over 17,000 tonnes of cathode materials.