(Yicai) Sept. 4 -- GEM, a major Chinese supplier of cathode materials for lithium batteries and a leading battery recycler, is linking arms with the graphite processing arm of metals giant China Minmetals Group and Shenzhen Eigen Equation Graphene Technology, a graphene materials producer, to promote the recycling of graphite, the main material used in battery anodes, from spent lithium batteries to promote the green and efficient regeneration of graphite anode materials.

China Minmetals Group (Heilongjiang) Graphite Industry, which owns one of the world's largest graphite mines in Heilongjiang province, Eigen Equation, in which GEM holds a 20 percent stake, and GEM will leverage their respective resources and technological strengths to build a recycling industrial chain that spans from the recycling of used lithium batteries to the production of high-purity graphite, GEM said yesterday, citing the cooperation framework agreement penned by the three parties.

The three partners will also develop technologies to promote the research and production of high-performance lithium battery anode materials, and explore more application scenarios for graphite materials, the Shenzhen-based firm added.

The tie-up will leverage GEM's expertise in the recycling of used lithium batteries and electronic waste, achieving efficient recycling and closed-loop management of graphite resources, it said.

Minmetals, which runs a graphite processing industrial chain, has recently successfully completed the development of production technology for ultra-high purity graphite products, Xinhua News Agency reported yesterday.

GEM’s revenue from lithium battery materials accounted for 75.2 percent of total revenue at CNY22.9 billion (USD3.2 billion) last year, according to the company's 2023 annual report. Revenue from the recycling and processing of urban waste resource made up 24.7 percent of total revenue at CNY7.5 billion (USD1 billion).

GEM’s share price [SHE:002340] closed down 0.8 percent at CNY5.81 (USD0.82), losing its earlier gains in the day.

Editor: Kim Taylor