[SMM analysis] Jinchuan WP Company of Indonesia exceeded the production and management tasks ahead of schedule. What are the specific details?

SMM12, March 11: it is reported that in 2018, all Chinese and foreign employees of Jinchuan WP Company in Indonesia overcome difficulties, unite and cooperate, work hard, and exceed the annual production and management tasks issued by the Group ahead of schedule. For the whole year, it is estimated that 2.48 million tons of ore will be produced, the business income will be 340 million yuan, and the total profit will be 128 million yuan.

On the morning of November 25, 2016, the Indonesian WP&RKA laterite nickel mine project invested by Jinchuan Group opened a new chapter of Jinchuan Group in the field of laterite nickel mines and made substantial strides in the field of laterite nickel mines, which opened a new chapter of Jinchuan Group's investment in the Indonesian WP&RKA laterite nickel mine project on the island of Obi, northern Maluku province, Indonesia. The total investment of the project is US $658 million, and the construction of the project includes mines, smelters, power plants, and so on. The total investment of the project is US $658 million, and the construction of the project includes mines, smelters, power plants, and so on.

The company has an annual nickel ore handling capacity of about 1.8 million tons. Under the policy of loosening the nickel mine export quota in Indonesia, the company will apply for the export quota according to the maximum amount that can be applied for.

According to SMM, the Jinchuan WP project in Indonesia plans to build four 33000KVA ore heaters, the first of which will be put into production in late 2018 or early 2019. The project plans to produce more than 200000 tons of ferronickel per year, equivalent to about 30, 000 tons of metal per year, and plans to sell to the domestic market, which will undoubtedly occupy a share of the domestic nickel pig iron market.

In addition, Jinchuan WP applied for an export quota of 2.2 million wet tons of nickel ore in late October 2017 with the project, and has received a new quota after the expiration of the recent quota, which is expected to be shipped in the next year.