Jingmen, 28 April 2026 – GEM Co., Ltd., PT Vale Indonesia Tbk. (PTVI), and ECOPRO have reaffirmed their strategic cooperation to develop a globally competitive and sustainable nickel value chain, following a high-level meeting held at GEM’s Jingmen Circular Economy Industrial Park from April 27–28, 2026.

The meeting brought together Mr. Bernardus Irmanto, President Director & CEO of PTVI and Mr. Song Ho-jun, CEO of ECOPRO, along with Professor Xu Kaihua, Chairman of GEM.

The discussions focused on strengthening collaboration across the nickel resource and downstream industry chain, with particular emphasis on circular economy practices and addressing evolving global supply chain challenges.

This gathering represents a strategic step forward in aligning the strengths of leading companies from Indonesia, China, and South Korea. The partnership integrates upstream nickel mining, advanced hydrometallurgical processing, and cathode material manufacturing, forming a comprehensive and competitive global value chain aimed at meeting demand in key international markets, including Europe and the Americas.

▲ Figure 1: GEM executives and Indonesian students warmly welcome the delegations of PTVI CEO Mr. Bernardus Irmanto and ECOPRO CEO Mr. Song Ho-jun

▲ Figure 2: Strategic cooperation exchange meeting among PTVI, ECOPRO, and GEM

▲ Figure 3: Group photo of attendees at the VALE-ECOPRO-GEM Tripartite Meeting

A Powerful Tripartite Alliance to Build a New Blueprint for the Nickel Industry Chain

During the strategic exchange session, the three companies reviewed progress in their ongoing cooperation and explored new opportunities to expand collaboration. These including the cooperation between PTVI and ECOPRO, as well as the latest construction progress of the International Green Industrial Park (IGIP). This allowed them to collectively reflect on the deep foundation of their cooperation and trusting friendship, while jointly envisioning a blueprint for new collaborative projects in the face of evolving global challenges.

Chairman Xu Kaihua, on behalf of GEM, extended a warm welcome to the visiting guests and expressed sincere gratitude to PTVI and ECOPRO for their long-standing trust and support.

"This gathering of the three parties is a critical step in addressing new global challenges in the nickel resource sector. PTVI and ECOPRO are trusted global partners of GEM—good friends and brothers. Our past collaboration has successfully overcome many challenges, with remarkable results. Notably, Mr. Bernardus Irmanto of PTVI and Chairman Lee Dong-chae of ECOPRO have personally visited the BNSI project site on multiple occasions, bringing great strength to our tripartite partnership," he said.

He pointed out that the partnership brings together complementary strengths across the value chain: PTVI as a leading mining company, GEM as a global leader in hydrometallurgy and recycling, and ECOPRO as a leading cathode materials manufacturer. The collaboration represents a powerful alliance to tackle new global challenges in nickel resources and build a globally competitive green nickel and downstream industry chain to meet the needs of core markets in Europe and America.

Chairman Xu Kaihua firmly believes that the BNSI project is expected to become a flagship outcome of trilateral cooperation, demonstrating the potential of integrated industrial collaboration across borders.

▲ Figure 4: Xu Kaihua, Chairman of GEM, speaks at the tripartite strategic cooperation exchange meeting

Strengthening the Will to Cooperate and Jointly Addressing Challenges

In his remarks, Mr. Bernardus Irmanto, President Director & CEO PTVI, expressed appreciation for the hospitality extended by GEM and reaffirmed PTVI’s commitment to the tripartite cooperation. He stated that his visit had two objectives: to demonstrate strong support for the BNSI project, and to explore further collaboration possibilities.

"I have gained a great deal from this visit to GEM, especially from Professor Xu's insights on new circular economy concepts and the wisdom of Chinese philosophy. Witnessing GEM's world-class achievements in the circular economy, I am convinced that choosing to cooperate with GEM was the right decision," he added.

He emphasized that the success of the BNSI project is a shared priority and reaffirmed PTVI’s commitment to coordinating closely with partners to address project challenges, accelerate implementation, and expand future cooperation opportunities.

▲ Figure 5: Mr. Bernardus Irmanto, CEO of PTVI, speaks at the tripartite strategic cooperation exchange meeting

Focusing on Global Expansion to Build an Industrial Closed Loop

Mr. Song Ho-jun, CEO of ECOPRO, expressed his gratitude to GEM for providing a communication platform that enabled the first formal meeting between the ECOPRO and PTVI teams. He noted that ECOPRO, as a leading South Korean and world-class cathode material company, has already established a closed-loop system from recycling to cathode production.

As a major shareholder in the BNSI project, ECOPRO plans to work closely with GEM and PTVI to develop the project into a core global manufacturing base. The facility is expected to supply key markets across Europe, the Americas, and Asia, while strengthening Indonesia’s role in the global battery materials supply chain.

▲ Figure 6: Mr. Song Ho-jun, CEO of ECOPRO, speaks at the tripartite meeting

Tracing the Path of Recycling, Experiencing the Transformation of Waste into Value

During their visit, the PTVI and ECOPRO delegations toured GEM’s Jingmen Circular Economy Industrial Park, accompanied by Chairman Xu Kaihua. The visit followed the full circular economy value chain, showcasing advanced recycling and resource recovery technologies.

The delegation visited key facilities, including GEM's National "Urban Mining" Museum, the National Engineering Research Center for Electronic Waste Recycling, the Spent Lithium-Ion Battery Resource Recovery Center, and the Nickel-Cobalt Resource Recovery Center. The tour provided firsthand insight into GEM’s approach to transforming waste into valuable resources and advancing sustainable industrial practices.

▲ Figure 7: Mr. Bernardus Irmanto (second from right), CEO of PTVI, visits the "Urban Mining" Museum at the GEM National Circular Economy Education Demonstration Base

▲ Figure 8: Xu Kaihua, Chairman of GEM, together with Mr. Bernardus Irmanto, CEO of PTVI, and Mr. Song Ho-jun, CEO of ECOPRO, pose for a group photo in front of the UN SDGs display area

▲ Figure 9: Xu Kaihua, Chairman of GEM, together with Mr. Bernardus Irmanto, CEO of PTVI, and Mr. Song Ho-jun, CEO of ECOPRO, visits a class of the GEM-Indonesian Government-Central South University joint master's program and takes a group photo with some of the fourth-batch international students.

This meeting marks a strategic cooperation milestone in addressing new global challenges in the nickel resource sector, injects new momentum into the sustainable development of the global nickel resource and downstream industry chain. It also demonstrates the firm resolve of leading companies from China, South Korea, and Indonesia to build a globally competitive nickel resource, green, and low-carbon nickel ecosystem.

Looking ahead, GEM, PTVI, and ECOPRO will continue to advance cooperation projects in Indonesia to the highest standards, working together to develop a world-class zero-carbon green nickel industry chain and contribute to the global transition toward sustainable energy systems.

▲ Figure 10: A Promise Kept, A Path Shared! Group photo of Professor Xu Kaihua, Chairman of GEM; Mr. Bernardus Irmanto, President Director & CEO of PTVI; and Mr. Song Ho-jun, CEO of ECOPRO.

The delegation was received by Mr. Jiang Zhenkang, Special Assistant to the Chairman of GEM; Dr. Zhang Kun, Senior Deputy General Manager of GEM; Mr. Wang Qiang, Senior Deputy General Manager of GEM; and Mr. Zeng Yong, Assistant General Manager of GEM, among other GEM leaders.