LONDON, March 3 (Reuters) - Gold's appeal as it draws support from the widening conflict in the Middle East is expected to ​remain intact even if some investors have favoured the dollar as their preferred safe haven, traders and analysts said.

【SMM Flash Update】 Shenzhen-listed GEM Co., Ltd. (002340.SH) announced that its board has approved the issuance of H-shares and a main board listing on the Hong Kong Stock Exchange, appointing Grant Thornton Hong Kong as auditor. Founded in 2001, GEM is a leading player in waste recycling and new energy materials, with operations spanning spent battery and e-waste recycling, re-manufacturing of nickel, cobalt, lithium, tungsten and precious metals, as well as production of ternary precursors and cathode materials for EV batteries. Already listed in Shenzhen and Zurich, GEM’s market capitalization stood at about RMB 35.46 billion as of Aug 25, 2025.

【GEM Exits, Sells 2 Million Shares】GEM recently announced that the company plans to sell no more than 2.0221 million shares of ECOPRO MATERIALS (abbreviated as ECOPRO MAT), held by its wholly-owned subsidiary, through a trading method permitted by the Korea Exchange. These shares account for 3% of its total share capital. This move aims to maximize shareholder value, further optimize the company's asset structure, enhance asset liquidity and utilization efficiency, and meet the company's funding needs for building a green nickel resource park in Indonesia.

[GEM Releases New Preparation Method for Modified High-Nickel Precursors] GEM Co., Ltd. and its Shenzhen Super Green Technology Research Center recently disclosed an invention patent involving a modified high-nickel precursor, its preparation method, and cathode materials. The patent (CN202411457862.7) was filed on October 18, 2024, and published on January 21, 2025. This invention introduces a modified complexing agent solution containing ammonium lignosulfonate during the co-precipitation reaction, significantly enhancing particle dispersibility and sphericity. Additionally, this method expands the precursor lattice constant and improves lithium-ion diffusion kinetics, thereby increasing the charge-discharge capacity, C-rate performance, and cycling stability of cathode materials. This innovative technology is expected to bring significant breakthroughs to the lithium battery industry, driving the development of the NEV and ESS sectors.

GEM: Signed Strategic Cooperation Agreement with South Korea's ECOPRO to Build "Nickel Resources + New Energy Materials" Industry Chain. GEM announced that the company, together with South Korea's ECOPRO and its subsidiaries, jointly signed a strategic cooperation agreement in Pohang, South Korea on April 9, 2025. The agreement aims to jointly construct the Indonesia International Green Industrial Park and establish a core supply chain for secondary battery materials within the park, covering "nickel resources - precursor - cathode materials." The announcement also introduced the details of the partners, the main contents of the strategic cooperation agreement, its impact on the company, risk warnings, and other relevant explanations.

Hubei Baifu Renewable Resources Co., Ltd. will utilize its existing warehouse with a floor area of 10,000 m² to construct a project for the annual recycling, dismantling, and comprehensive utilisation of 20,000 mt of scrap new energy power batteries, with a total project investment of 220 million yuan.

On September 8, Qichacha APP showed that Jingmen GEM Recycling High-Tech Co., Ltd. was recently established, with Peng Tao as its legal representative. The company is wholly owned by GEM's holding company, Jiangxi GEM Recycling Industry Co., Ltd. Its main business scope includes: R&D of resource recycling technologies; smelting of rare and rare-earth metals; smelting of common non-ferrous metals; solid waste treatment; sales of new-type metal functional materials, etc. This move comes as GEM prepares for its upcoming listing.

[GEM Announcement of Financial Report] In the first half of 2024, the company witnessed a significant capacity release, with robust production and sales. Both operating revenue and net profit reached record highs, achieving an operating revenue of RMB 17.338 billion, a year-on-year increase of 33.99%, and a net profit attributable to shareholders of the listed company of RMB 701 million, a year-on-year increase of 69.70%.

【GEM: Signing Ceremony for Energy Storage Project with EVE Energy Held Grandly】On August 14, 2024, the signing ceremony for the 60.2MW/120.4MWh collaborative energy storage project between GEM and EVE Energy was held ceremoniously in Jingzhou City. Located within GEM's Jingmen New Energy Circular Economy Low-Carbon Park, this project employs lithium iron phosphate batteries produced by EVE Energy's Jingmen factory, boasting an installed capacity of 60.2MW/120.4MWh and is scheduled to be officially commissioned in the second half of 2024. As for the collaborating partners, GEM stands as a core supplier in the global new energy industry and a leading enterprise in China's circular economy, while EVE Energy is a leading global lithium battery company. The joint energy storage project by these two powerful players aims to achieve energy savings, consumption reduction, cost efficiency, and further aligns with the national call for green transformation and high-quality development.

On December 20, 2024, GEM's wholly-owned subsidiary, Jingmen GEM New Material Co., Ltd., successfully registered its "GEM-CO" refined cobalt brand with the London Metal Exchange (LME). The registered project has an annual capacity of 10,000 mt, and refined cobalt products produced after July 3, 2024, can be delivered for contract fulfillment in LME warehouses. This follows the successful registration of GEM's refined nickel brands, GEM-NI1 and GEM-NI2, with the London Metal Exchange in November 2023. It marks another milestone for outstanding new energy metal products entering international exchanges, continuing to build the vision of "Chinese Products, Global Brands.