SHANGHAI, Mar 4 (SMM)—Tsingshan Group signed high-grade nickel matte supply agreements with Huayou Cobalt and CNGR on the afternoon of March 1. As the three parties agreed, Tsingshan will supply 60,000 mt of high-grade nickel matte to Huayou Cobalt and 40,000 mt to CNGR within one year starting from October 2021.

Leaders such as Tsingshan Chairman Xiang Guangda, Huayou Cobalt Chairman Chen Xuehua and Hunan CNGR Chairman Deng Weiming attended the signing ceremony.

In order to further improve the industrial chain in the field of new energy and to further meet the demand for nickel from power batteries, Tsingshan Group began to test the production of high-grade nickel matte in Indonesia in July 2020, producing high-grade nickel matte with a nickel content of more than 75%. The process has been successfully trial-produced at the end of 2020, and it has been able to stably supply high-grade nickel matte.

Tsingshan will continue to increase investment in its nickel industry in Indonesia. It is expected to produce 600,000 mt of nickel equivalent in 2021, 850,000 mt in 2022, and 1.1 million mt in 2023. Among them, the output of high-grade nickel matte and ferronickel will be adjusted according to market demand and price changes.