CNGR Terminates POSCO JV, Accelerates Global Expansion, Boosts Nickel Output

Published: Feb 24, 2025 15:38

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[CNGR's Investment in a Nickel Refinery Project in South Korea and Acceleration of Global Expansion] CNGR announced the termination of its joint venture plant construction with POSCO Holdings. The two parties conducted multiple rounds of investment analysis and evaluation regarding project operation and management costs, but the project has yet to achieve substantial progress. Additionally, CNGR is accelerating its global expansion, having fully launched its internationalization strategy in 2021, with corresponding capacity planning on both the materials and resources fronts. In H1 2024, the company's total nickel product output in Indonesia exceeded 35,000 mt in metal content, with Q2 showing a QoQ increase of nearly 40%, which is expected to drive profitability improvement.

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