Zhongwei Co., Ltd.: subsidiary signed joint venture agreement for laterite nickel smelting project with an annual output of 30,000 tons of nickel-containing metal (Indonesia)

Published: Apr 9, 2021 08:04

Source: Mandarin Finance and Economics

Save

[Zhongwei Co., Ltd.: subsidiary signs joint venture agreement for laterite nickel smelting 30,000 tons of high matte nickel metal (Indonesia) project] Zhongwei Co., Ltd. announced on Thursday that the wholly owned subsidiary Zhongwei Hong Kong New Energy and RIGQUEZA signed a joint venture agreement for laterite nickel smelting 30,000 tons of high matte nickel metal (Indonesia) project. The total investment of the project is about US $243 million, of which the first phase of the project plans to produce 10,000 tons of high matte nickel metal annually. The total investment is about 81 million US dollars.

Zhongwei announced on Thursday that Zhongwei Hong Kong New Energy, a wholly-owned subsidiary, signed a joint venture agreement with RIGQUEZA for a laterite nickel smelting project with an annual production capacity of 30,000 tons of high nickel-containing nickel (Indonesia). The total investment of the project is about US $243 million, of which the first phase of the project plans to produce 10, 000 tons of high-nickel-containing metal per year, with a total investment of about US $81 million.

Nickel nickel price stainless steel mining

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Feb 7, 2026 16:41

High-Grade NPI Smelter Profits Squeezed as Ore Prices Rise and Sales Prices Dip

[SMM Nickel Flash] Based on nickel ore prices from 25 days ago, smelter profits for high-grade NPI remained high this week. However, from the current raw material side, ore prices from both the Philippines and Indonesia increased, while auxiliary material prices saw a slight pullback, leading to an increase in the cash cost of producing high-grade NPI from spot ore. At the same time, high-grade NPI prices experienced some pullback, making it difficult for smelter profits to see sustained improvement.

Feb 7, 2026 16:41

Feb 7, 2026 16:40

High-Grade NPI Prices Fall, Expected to Stabilize as Chinese New Year Approaches

[SMM Nickel Flash] This week, due to a sharp decline in futures triggering arbitrage selling, high-grade NPI prices fell significantly. However, after the selling activity subsided, upstream quotations and the market center gradually returned to normal levels, supported by cost factors. Looking ahead, as the Chinese New Year holiday approaches, market activity is expected to remain subdued, and high-grade NPI prices are projected to hover at highs with limited fluctuations.

Feb 7, 2026 16:40

Feb 7, 2026 16:39

Nickel Prices Drop: SMM 10-12% High-Grade NPI Down 17.2 Yuan, Indonesia NPI FOB Index Falls 2.06 $/mtu

[SMM Nickel Flash] The SMM average price of 10-12% high-grade NPI fell 17.2 yuan/mtu WoW to 1,035.8 yuan/mtu (ex-factory, tax included), while the Indonesia NPI FOB index average price dropped 2.06 $/mtu WoW to 131.2 $/mtu. At the beginning of the week, futures hit limit-down, and nickel prices fell sharply WoW, driving the emergence of arbitrage supplies sold at low prices, leading to a significant decline in high-grade NPI prices.

Feb 7, 2026 16:39