Home / Metal News / Nickel / Chinese Mining Company to Construct a High-Grade Nickel Matte Project with Capacity of 40,000 mt/year in Ni Content in Indonesia
Chinese Mining Company to Construct a High-Grade Nickel Matte Project with Capacity of 40,000 mt/year in Ni Content in Indonesia
Dec 3, 2021 10:42CST
Source:SMM
Hongsheng International Resources Co, a wholly-owned subsidiary of Chengtun Mining Group, intends to sign a joint venture agreement with Extension Investment Pte. Ltd to establish Chengmai Nickel Co. in Indonesia. The initial authorised registered capital is $1million.

SHANGHAI, Dec 3 (SMM) – Hongsheng International Resources Co, a wholly-owned subsidiary of Chengtun Mining Group, intends to sign a joint venture agreement with Extension Investment Pte. Ltd to establish Chengmai Nickel Co. in Indonesia. The initial authorised registered capital is $1million.

Hongsheng International holds a 70% stake in Chengmai Nickel, and Extension holds a 30% stake.

The subsequent authorized capital will be paid according to the progress of the project's funding requirements.

Chengmai Nickel plans to construct a high-grade nickel matte project with an annual output of 40,000 mt (Ni content) in IWIP, Indonesia, with a total investment of $350 million.

Based on the shareholding ratio, Chengmai Nickel’s investment is $245 million.

nickel
high-grade nickel matte

For queries, please contact Frank LIU at liuxiaolei@smm.cn

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

Related news