2025 Indonesia Mining Conference & Critical Metals Conference - Nickel-Cobalt NEV Forum Successfully Concluded! Check Out the Key Takeaways~

On June 35, 2025, SMM held the 2025 Indonesia Mining Conference & Critical Metals Conference - Nickel-Cobalt NEV Forum in Jakarta, Indonesia, which concluded successfully!

The conference brought together industry leaders, experts, scholars, and corporate representatives from around the globe to engage in in-depth discussions on a series of key topics. The discussions covered the global nickel market, the current situation and prospects of nickel mines in Indonesia and the Philippines, the current state and future trends of the global nickel industry, new opportunities and challenges in the global cobalt value chain, the challenging cycle of the nickel market (such as supply surplus, uncertain demand, and trade resistance), as well as various challenges and countermeasures that nickel production needs to consider beyond ESG and sustainable development, among other hot topics in the industry.

This article presents the guest speakers' remarks from the Nickel-Cobalt NEV Forum on June 4 and June 5:

Chen Sitong, Sales Manager of Metaspace, a platinum sponsor and co-organizer of the conference, mentioned that Metaspace's products feature seven major aspects: 1. Low investment, less than half of the investment required for steel structures of the same size; 2. High space utilization rate, easily achieving a 200-meter span with flexible process layouts; 3. Ultra-short construction period, with modular on-site installation and no construction waste; 4. Simple maintenance and operation, with intelligent control, enhancing the safety of production spaces; 5. Safe, green, and environmentally friendly, with light weight, low cost, low energy consumption, excellent performance in wind resistance, snow resistance, earthquake resistance, low foundation requirements, anti-settlement, and corrosion resistance; 6. Controllable internal environment, with excellent ventilation and efficient internal environmental monitoring and management; 7. Movable and reusable, with simple disassembly and no loss, suitable for permanent or seasonal storage warehouses.

Ricardo Ferreira, Director of Market Research and Statistics at the International Nickel Study Group (INSG), stated that the global primary nickel market experienced oversupply in 2024, and this trend is expected to continue in 2025. Indonesia and China are the main countries driving market changes, while other regions are cutting production. Stainless steel remains the most important application area for nickel. Meanwhile, although the usage rate of nickel in the battery market is increasing, the growth rate is lower than expected. Therefore, whether nickel will play a greater role in the future remains to be seen. In addition, policies in various countries (such as ESG standards, subsidies, tariffs, royalties, and quotas) may all have a significant impact on the nickel market.

Denis Sharypin, Strategic Marketing Director of Norilsk Nickel, said that if current trends persist, the nickel market is expected to face oversupply, leading to a decline in nickel prices. Even at an Indonesian ore price of $100/wmt, China's stainless steel remains competitive in Europe. A potential rise in Indonesian ore prices would increase the country's mining revenue, while the competitiveness of downstream operations in Indonesia and China will remain unchanged.

Prof. Evvy Kartini, founder of Indonesia's National Battery Research Institute, stated,"Batteries make decarbonization of road transport possible. Although global automobile ownership will continue to grow, the increase is expected to decouple from CO2 emissions due to electrification. By 2030, global demand for lithium-ion batteries will exceed 3,100Gwh."

Thomas Feng, SMM nickel industry research head,indicated that for the full year of 2025, Indonesia's ore supply and demand situation will tighten, with overall prices expected to remain high. Primary nickel market,SMM forecasts that short-term factors like policies will lead to tight global nickel supply, maintaining a tight balance between supply and demand. However, in the long term, the primary nickel market is still expected to remain in surplus. On the consumption side, the stainless steel industry will continue to be the dominant downstream sector in the nickel market, holding an unshakable position in nickel consumption.

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June 4

Nickel-Cobalt-New Energy Vehicle

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Keynote Speech:

Accelerating Indonesia's Industrial Downstreaming: From Mineral Raw Materials to High-Value-Added Manufacturing

Speaker:

Agus Gumiwang Kartasasmita, Minister of Industry, Republic of Indonesia

(At the speaker's request, this presentation will not be made public)

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Keynote Speech:

Unlocking Investment Potential in Indonesia's Mineral Downstream Industry: Policies, Incentives and Opportunities

Speaker:

Todotua Pasaribu, Deputy Minister of Investment and Downstream Industry, Indonesia

(At the speaker's request, this presentation will not be made public)

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Keynote Speech:

Government Sharing: Overview and Opportunities of New Caledonia's Nickel Industry

Speaker:

Jean-Yves Saussol, Minister of Energy, Mining and Industry, New Caledonia

Important Information About New Caledonia:

New Caledonia, located in the South Pacific, is a French territory with a high degree of legislative autonomy.

►Laws related to the nickel industry are voted by the local congress and implemented by local governments and provinces.

►France is responsible for maintaining public order and defense, and provides financial support when necessary.

►The archipelago has a population of approximately 270,000.

► With an area of 18,576 square kilometers, it is one percent of Indonesia's total area.

► Thanks to its strong industrial sector (the nickel industry accounted for 20% of market wealth creation in 2019), New Caledonia's GDP per capita reached $36,000 in 2022.

New Caledonia boasts unique biodiversity, with over 3,260 endemic plant species (74% of which grow exclusively here) and 23 endemic bird species. These species inhabit unique ecosystems found nowhere else on Earth, with some ecosystems impacted by historical nickel mining, a resource that has played a pivotal role in the island's development.

》Government Insights: Overview and Opportunities of Nickel Industry Development in New Caledonia

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Keynote Speech:

Enhancing Sustainability and ESG Compliance in Indonesia's Mineral Value Chain

Speaker:

Imelda Kiagoes, Group Secretary of Ceria Corp.

(This presentation is not open to the public at the speaker's request)

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Keynote Speech:

Good Mining Practices: Enhancing Nickel Ore Mining Value and Reducing Costs

Speaker:

LESBON AJ SITORUS, General Manager of Strategic Mine Planning at Harita Nickel

(This presentation is not open to the public at the speaker's request)

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Keynote Speech:

Current Status and Outlook of the Philippine Nickel Industry: Its Role in the Global Supply Chain and the Impact of Export Bans

Speaker:

Andre Mikael, Vice President of Finance, Investor Relations, and Sales at Nickel Asia Corporation

The Philippines currently exports magnesian laterite nickel ore to Indonesia.

Last year, 43% of the magnesian laterite nickel ore was exported to Indonesia.

Currently, Philippine nickel ore exports account for only 6% of Indonesia's annual consumption.

All limonite-type laterite nickel ore (containing Fe) from the Philippines is exported to China.

Export Status of Limonite LG-Grade Nickel Ore from the Philippines

Limonite ore from the Philippines is used in the mature low-grade nickel pig iron (NPI) market, with prices attractive to Philippine miners.

With a free on board (FOB) price exceeding $20 per wet metric ton, this raw material may lack appeal to users of the high-pressure acid leaching (HPAL) process.

There are potential opportunities for Philippine nickel ore with 1.00-1.20% nickel content and <40% iron content to supply HPAL plants in Indonesia.

》Current Status and Outlook of the Philippine Nickel Industry: Its Role in the Global Supply Chain and the Impact of Export Bans

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[Roundtable Discussion]

Global Nickel Market Outlook: Supply and Demand Dynamics, Price Trends, and Future Challenges

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Moderator:

Jim Lennon, Advisor at Macquarie

Speakers:

Wang Cong, General Manager of SMM Industry Research

Steven Chen, Global Sales Head of Eternal Tsingshan Group

Anne Oxley, Founder and Chief Technology Officer of Brazil Nickel

Dante R., President of the Nickel Industry Association (PNIA)Bravo

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Keynote Speech:

Global Supply and Demand Drivers in 2030: Risks and Opportunities for Indonesian Nickel Producers

Speaker:

Jim Lennon, Advisor at Macquarie

(At the request of the speaker, this presentation will not be made public.)

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Keynote Speech:

Selection of Development Process Routes for Indonesian Laterite Nickel Ore

Speaker:

Sun Haikuo, President of ENFI Engineering Corporation Indonesia Branch

The key to optimizing resource utilization and enhancing project benefits lies in selecting the optimal treatment process for different types of laterite nickel ore. Currently, the high-pressure acid leaching (HPAL) process is suitable for limonite, while the Rotary Kiln-Electric Furnace (RKEF) process is more appropriate for saprolite.

When producing nickel-cobalt products for the battery market, the HPAL process has a cost advantage over the RKEF and side-blowing processes due to its ability to handle low-nickel, high-cobalt limonite.

If the RKEF process is used to produce nickel matte, additional facilities need to be added on the basis of FeNi/NPI production, along with increased costs for sulfidizing and desulfurizing agents. When nickel sulphate prices are not significantly higher than those of FeNi/NPI, the cost competitiveness of this process is low.

When using side-blowing technology to treat laterite nickel ore with moderate nickel-cobalt content, producing nickel matte has investment and cost advantages over the RKEF process. However, to optimize production line operations, several key issues need to be addressed: extending the service life of furnace linings and lances, improving heat supply efficiency, and gradually achieving iron reduction and effective separation of metal and slag.

》Experts' Discussion: Selection of Development Process Routes for Indonesian Laterite Nickel Ore

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[Roundtable Discussion] - How to Jointly Establish a Sustainable Nickel-Cobalt Industry?

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Moderator:

Andika Akbar Hermawan, Researcher, Southeast Asia Energy Program, Rocky Mountain Institute

Speakers:

Tom Fairlie, Senior Sustainability Manager, Cobalt Institute

Muchtazar, Head of Sustainability, Nickel Industries Limited

Dr. Mark Mistry, Head of Public Policy and Sustainability, Nickel Institute

Tonny Gultom, Director, Harita Nickel

Martha Maulidia, Energy Policy Researcher, International Association for the Study of Sustainability

Mike Smith, Value Chain Director, Copper Mark

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Keynote Speech:

Market Outlook: Current Status and Future Trends of the Global Nickel Industry

Speaker:

Ricardo Ferreira, Director of Market Research and Statistics, International Nickel Study Group (INSG)

The global primary nickel market experienced an oversupply in 2024, and this trend is expected to continue in 2025.

Indonesia and China are the main countries driving market changes, while other regions are cutting production. Stainless steel remains the most important application area for nickel. Meanwhile, although the nickel utilization rate in the battery market is increasing, the growth rate is lower than expected. Therefore, whether nickel will play a greater role in the future remains to be seen.

In addition, policies in various countries (such as ESG standards, subsidies, tariffs, royalties, and quotas) may all have a significant impact on the nickel market.

》Current Status and Future Trends of the Global Nickel Industry: The Primary Nickel Market May Remain in a Surplus Situation in 2025

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Keynote Speech:

China's Refined Cobalt Construction: Achieving Global Supply

Speaker:

Liu Yiting, Business Manager, Ningbo Lygend Resource Technology Development Co., Ltd.

(At the request of the speaker, this speech will not be made public.)

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Keynote Speech:

Enhancing Sustainability and Transparency in the Cobalt Industry Chain

Speaker:

Susannah Mclaren, Head of Responsible Sourcing and Sustainability, Cobalt Institute

(At the request of the speaker, this speech will not be made public.)

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Roundtable Discussion: Exploring the Global Cobalt Value Chain: New Opportunities and Challenges?

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Moderator:

Myriam El Kara, Energy Commodities and Capital Markets Expert, Sterling Acumen

Speakers:

Mamoko Egyul, Smelting Expert, Coordination and Mining Planning Technical Department, Ministry of Mines, Democratic Republic of the Congo

Christian Aramayo, Co-Founder and Chief Operating Officer, Kuya Silver

Dr. Patience Mpofu, President, Insight Mining Experts

Vinícius Mendes Ferreira, Executive Advisor for Nickel Downstream Business in Indonesia, Vale

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Keynote Speech:

Nickel's Tough Cycle: Supply Surplus, Demand Uncertainty, and Trade Resistance

Speaker:

Denis Sharypin, Director of Strategic Marketing, Norilsk Nickel

The oversupply of nickel ore in Indonesia has led to low domestic value-added, sluggish nickel prices, and depletion of nickel resources.

If current trends continue, the nickel market is expected to face an oversupply, leading to a decline in nickel prices.

Even if the price of nickel ore in Indonesia is $100 per wmt, Chinese stainless steel remains competitive in Europe.

A potential increase in nickel ore prices in Indonesia would boost the country's mining revenue, while the competitiveness of downstream businesses in Indonesia and China would remain unchanged.

Key Points:

Q: Will price reductions reduce the surplus supply in the market?

A: No, as long as Indonesia continues to increase its nickel production.

Q: Will the current strong demand persist? What impact will a new round of tariff wars have?

A: There is a high degree of uncertainty.

Q: What is the outlook for nickel demand in batteries?

A: The prospects for nickel demand growth have been affected by the optimization and cost reduction of LFP, as well as fierce competition in the automotive market.

Q: Are the recent improvements in market fundamentals resilient in the long term?

A: No. As long as Indonesia maintains a surplus supply of nickel, the future resilience of the market depends on whether Indonesian policies can halt the undervalued consumption of natural resources and provide sufficient metal when the market truly needs it.

》The Tough Cycle of Nickel: Supply Surplus, Demand Uncertainty, and Trade Resistance

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Keynote Speech:

From MHP to pCAM: Breakthroughs in SAL and CL Technologies for Sustainable Nickel Refining

Speaker:

Stephen Wilmot, Chairman of Pure Battery Technologies

(This speech will not be open to the public at the speaker's request.)

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June 5

Nickel-Cobalt-NEV

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Keynote Speech:

Huayou's New Energy Industry Layout and Practices in Indonesia

Speaker:

Linkui Wei, General Manager of Huayou Indonesia Nickel Industry Group - Indonesia Regional Management Center, Zhejiang Huayou Cobalt Co., Ltd.

(This speech will not be open to the public at the speaker's request.)

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[Roundtable Discussion] - How Can Indonesia Become a Battery Raw Material Supply Hub?

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Moderator: Jean Tang, Business Director of SMM

Speakers:

Nicolas Goffaux, Head of Mine Assets, McKinsey & Company Belgium

Barry Jackson, CEO of Ascentia Resources Ltd

Luke Mahony, Chief Strategy and Technology Officer, Vale Indonesia

Matthew Burford, Global Market Analyst - Battery Metals Management, BASF

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Keynote Speech:

From Data to Decision-Making: How SMM Drives Price Transparency in the Nickel Market

Speaker:

Shirley Wang, Industry Research Manager of SMM

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[Roundtable Discussion] Beyond ESG and Sustainability: What Else Should Nickel Producers Consider? Challenges and Responses

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Moderator:

Dr. Veronique Steukers, President of the Nickel Institute

Panelists:

Øivind Stenstad, Vice President of Health, Safety, Environment, and Community, Glencore Nickel

Klaus Oberbauer, Sustainability Manager, Harita Nickel

Anne Oxley, Founder and Chief Technology Officer, Brazil Nickel

Christy Gellert, Market and Price Analysis Expert, Vale Base Metals

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Keynote Speech:

A Brief Analysis of the Future Development Path of Low-Carbon Nickel in Indonesia

Speaker:

Egi Suarga, Climate Project Manager, Indonesia Office, World Resources Institute

(This speech will not be open to the public at the speaker's request.)

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Keynote Speech:

Interpretation of Key Points in RMI Audit Standards for Indonesia's Decarbonization Strategy

Speaker:

Josue Ruiz, Head of Certification Process Development, Responsible Minerals Initiative

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Keynote Speech:

Metaspace's Industrial Storage Technology for Inflatable Membrane Structures

Speaker:

Sales Manager of Metaspace, a platinum sponsor and co-organizer of this conference Sitong Chen

Introduction to Beijing Metaspace's Products

Product Features

1. Low investment, equivalent to less than 1/2 of the investment in steel structures of the same volume;

2. High space utilization rate, easily achieving a 200-meter span with flexible process layout;

3. Ultra-short construction period, modular on-site installation with no construction waste;

4. Simple maintenance and operation, intelligent control, enhancing the safety of production space;

5. Safe, green, and environmentally friendly, with light weight, low cost, low energy consumption, excellent performance in wind resistance, snow resistance, earthquake resistance, low foundation requirements, settlement resistance, and corrosion resistance;

6. Controllable internal environment, excellent ventilation, and efficient internal environmental monitoring and management;

7. Movable and reusable, with simple and lossless disassembly, suitable for permanent or seasonal storage warehouses.

》Seven Major Advantages Help Reduce Costs and Increase Efficiency! A Glimpse of Yodn Air Dome's Technology in the Industrial Warehousing Industry

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Keynote Speech:

The Rise of Mining in Southeast Asia: Indonesia at the Forefront of Global Critical Mineral Development, Contributing to Renewable Energy Goals

Speaker:

Tobias Maya, President of PT Geo Search

In the future, the demand for critical metals will continue to grow, and Indonesia and other Southeast Asian countries will play a significant role in this process. These countries possess enormous potential for developing new resources:

The discovery of new-generation projects will include deposits that are currently less prominent.

If exploration is encouraged as in the past, it is almost certain that new nickel, copper, cobalt, and other critical metal deposits will be discovered.

Despite challenges posed by project logistics, infrastructure, and land-use conflicts, these countries have enormous opportunities in developing mineral resources.

Mining these critical metals will help ensure a smooth transition to a new era of renewable energy in the region.

Overall, the possibilities for future exploration are very broad.

》Future Demand for Critical Metals Will Continue to Grow, with Indonesia and Other Southeast Asian Countries Holding Great Development Potential

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Keynote Speech:

Advanced Material Processing in Battery Technology: From Nickel to Batteries

Speaker:

Prof. Evvy Kartini, Founder of the Indonesian National Battery Research Institute

Indonesia is committed to reducing greenhouse gas emissions and has listed the development of the domestic EV industry as a national priority in Presidential Regulation No. 55 of 2019, aiming to "enhance energy efficiency in the transportation sector."

The country plans to establish a comprehensive and integrated domestic EV supply chain, covering the mining and processing of battery metals, the production of cathode active materials (CAM), the manufacturing of battery cells, packs, and EVs, and ultimately achieving battery recycling.

Batteries make the decarbonization of road transport possible.

Despite the continuous growth in global automobile ownership, the increase in ownership is expected to be decoupled from CO2 emissions due to higher electrification rates.

Battery Sustainability

By 2030, global demand for lithium-ion batteries is projected to exceed 3,100 Gwh.

"Advanced Material Processing in Battery Technology: From Nickel to Batteries" by the Indonesia National Battery Research Institute

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Keynote Speech:

Exploration Experts Share: Prioritizing the Development of Indonesia's Critical Mineral Reserve Potential and Enhancing Future Strength in Downstream Industries

Speaker:

STJ Budi Santoso, MEconGeol, Chairman of the Indonesian Geologists Association

The Role and Challenges of Exploration

Drivers of Exploration: The Current State and Future of the Mining Industry

Since Q4 2020, prices for most commodities have risen, with some reaching multi-year highs. Global demand for metals doubles every 20-30 years, and media estimates suggest that cumulative copper demand from 2017 to 2042 is expected to reach 689 Mt. Exploration expenditure is projected to increase by 65% by 2027.

Greater Challenges in Exploration

According to current exploration data, the depth of base metal exploration discoveries is twice that of gold, while the unit discovery cost of gold mines has doubled over the past decade.

"Exploration Experts Share: Prioritizing the Development of Indonesia's Critical Mineral Reserve Potential and Enhancing Future Strength in Downstream Industries"

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Keynote Speech:

SMM Analysis - Future Outlook for the Global Nickel Industry

Speaker:

Thomas Feng/Feng Disheng, Head of SMM Nickel Industry Research

Thomas Feng/Feng Disheng, Head of SMM Nickel Industry Research, shared insights on the "Future Outlook for the Global Nickel Industry." He stated that for the entire year of 2025, the supply and demand dynamics of nickel ore in Indonesia are expected to tighten, with overall prices projected to remain high. Regarding the primary nickel market,SMM expects that in the short term, influenced by factors such as policies, global nickel supply will tighten, maintaining a tight balance between supply and demand. However, in the long term, the primary nickel market is still expected to remain in surplus. On the consumption side, the stainless steel industry will continue to be the primary downstream consumer sector in the nickel market, holding an unshakable position in nickel consumption.

Since 2025, despite the supply surplus in the nickel market, nickel ore prices have been rising.

To ensure the sustainability of nickel industry supply and increase government-related tax revenues, a series of nickel-related policies have been introduced, including RKAB, SIMBARA, and HMA. RKAB is a key policy affecting the scale of nickel ore supply. According to the Indonesian government's approval in 2024, the total quota was approximately 272 million wmt. As of now, the quota announced under RKAB is approximately 50 million wmt. Due to the slow approval progress, subsequent approvals remain uncertain. Under the combined influence of the slow RKAB approval process and the rainy season, nickel ore prices in Indonesia have continued to rise since the beginning of this year. As of the end of May 2025, the CIF price of nickel ore with a 1.6% grade reached $55 per mt, a 25% increase compared to the beginning of the year.

》SMM: Nickel ore prices may remain high throughout 2025, with the nickel market maintaining a tight balance in the short term

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Closing Remarks

Speakers:

Fan Xin, Chairman of SMM

Nanan Soekarna, President of APNI

Arrmanatha Nasir, Deputy Minister for Foreign Affairs of the Republic of Indonesia, Ministry of Foreign Affairs of the Republic of Indonesia

Nanan Soekarna (left), Arrmanatha Nasir (middle), Fan Xin (right)

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With this,the 2025 Indonesia Mining Conference & Critical Metals Conference - Nickel-Cobalt NEV Forumhas come to a successful conclusion,

thank you for the support of all industry colleagues!