China’s GEM Co. Ltd and Glencore extend their long-term strategic cobalt partnership

Baar, Switzerland 7 October 2019

GEM Co. Ltd (GEM) and Glencore are pleased to announce that they have entered into a five year agreement for the supply of cobalt hydroxide (cobalt).

Under the terms of the agreement, Glencore will provide a minimum of 61,200 tonnes of Cobalt for GEM between 2020 and 2024.

Mr Xu, Chairman of GEM commented: 

“GEM is very pleased to announce this long-term strategic co-operation with Glencore. This agreement represents a major cornerstone in GEM’s cobalt sourcing strategy as it will support GEM’s continued contribution to the Chinese New Energy Market.

“In an ever-changing and fast evolving cobalt environment, GEM and Glencore have managed to maintain a very strong working relationship.

“By securing a key battery raw material, GEM clearly demonstrates its ability to implement and deliver its vision for an electrified, carbon-free transportation system.

“GEM will continue focusing on the development and the manufacturing of high quality sustainable cobalt products to meet the fast growing demand for cobalt containing battery products.

“GEM truly appreciates Glencore’s long term approach and its support in establishing a stable and sustainable cobalt supply chain.”

Nico Paraskevas, Head of Marketing, Copper & Cobalt, Glencore, commented: 

“The extension of our long established partnership with GEM further endorses Glencore’s important role in supplying the materials that enable the energy and mobility transition. Furthermore, this long term partnership provides Glencore with a stable outlet for a significant portion of its expected future Cobalt Hydroxide production.”

For further information please contact:

Investors
Martin Fewings    
t: +41 41 709 2880    
m: +41 79 737 5642    
martin.fewings@glencore.com

            
Media
Charles Watenphul    
t: +41 41 709 24 62    
m: +41 79 904 33 20    
charles.watenphul@glencore.com

Glencore LEI: 2138002658CPO9NBH955

Notes for Editors

About GEM
关于格林美

GEM is headquartered in Shenzhen, China. It is an advanced enterprise in the world circular economy and a leader in China’s circular economy. It is China’s leading company in the recycling of rare metal resources, battery packs, electronic waste and scrap cars. Recognized by the Chinese government as a national urban mining demonstration base, a national circular economy education demonstration base, a national pilot enterprise for battery recycling and a national green factory, GEM has a leading role in China’s waste recycling sector. After more than 10 years, GEM has built the world’s largest superfine cobalt powder manufacturing base and the world’s largest ternary precursor material manufacturing base. In the field of cobalt products, GEM has a smelting capacity of 30,000 tons of cobalt per year, producing cobalt salt, cobalt cathode, superfine cobalt powder, cobalt trioxide, lithium cobalt oxide, ternary precursors and ternary cathode materials and other varieties of cobalt products. The industrial system of raw materials, superfine cobalt powder, ternary precursor materials sales occupy the world’s biggest market share, GEM’s cobalt products serves for more than 60% of the world's cemented carbide manufacturing plants and more than 30% of lithium-ion battery manufacturers. Cobalt cathode is an LME registered brand. GEM is the largest buyer of cobalt raw materials from globally registered markets.

格林美股份有限公司总部位于中国深圳，是世界循环经济先进企业和中国循环经济领军企业，是中国领先的稀有金属资源回收、动力电池回收、电子废弃物回收与报废汽车回收利用企业，是中国政府认定的国家城市矿产示范基地、国家循环经济教育示范基地、国家动力电池回收试点企业和国家绿色工厂，在中国废物循环领域拥有崇高地位。经过10多年努力，格林美建成了世界最大的超细钴粉制造基地与世界最大的三元前驱体材料制造基地。在钴产品领域，格林美拥有每年30000吨的钴冶炼能力，形成了钴盐 、钴片 、超细钴粉、四氧化三钴、钴酸锂、三元前驱体与三元正极材料等多品种钴产品与电池原料的产业体系，超细钴粉、三元前驱体材料销售占有全球第一市场份额，格林美正在为全球60%以上硬质合金制造工厂和30%以上锂离子电池制造企业提供着钴产品服务。格林美生产的钴片是LME注册品牌。格林美是世界最大的钴资源购买商。

About Glencore
关于嘉能可

Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 90 commodities. The Group's operations comprise around 150 mining and metallurgical sites, oil production assets and agricultural facilities.

Glencore是世界最大的全球性自然资源公司之一，也是超过90种大宗商品的主要生产商和销售商。集团由约150处矿区、金属冶炼厂、石油产区和农业基地组成。

With a strong footprint in both established and emerging regions for natural resources, Glencore's industrial and marketing activities are supported by a global network of more than 90 offices located in over 50 countries.
伴随在自然资源开采的成熟和新兴区域的强劲布局，Glencore的产业化和市场化举措从遍布全球超过50个国家的90多处办公场所所构成的全球化网络处获得支持。

Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, oil and food processing sectors. Glencore also provides financing, logistics and other services to producers and consumers of commodities. Glencore's companies employ around 158,000 people, including contractors.

Glencore的客户都是工业客户，如汽车、钢铁、发电、石油和食品加工行业的公司。Glencore同时也为大宗商品类的生产商和客户提供金融、物流，以及其他方面的服务。Glencore及其下属公司雇员约158,000人，包括合同工。

Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights.

Glencore为其是安全和人权自主原则组织的其中一员而自豪。

Disclaimer
The companies in which Glencore plc directly and indirectly has an interest are separate and distinct legal entities. In this document, “Glencore”, “Glencore group” and “Group” are used for convenience only where references are made to Glencore plc and its subsidiaries in general. These collective expressions are used for ease of reference only and do not imply any other relationship between the companies.  Likewise, the words “we”, “us” and “our” are also used to refer collectively to members of the Group or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies.