Chinese Mining Company to Construct a High-Grade Nickel Matte Project with Capacity of 40,000 mt/year in Ni Content in Indonesia

Published: Dec 3, 2021 10:42

Save

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

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

May 22, 2026 20:42

【SMM Analysis】Weekly Review of Indonesian Nickel Market - May 22

May 22, 2026 20:42

May 22, 2026 19:16

[SMM Analysis] Supply-Demand Price Spread Hard to Converge, Prices to Fluctuate in the Short Term

[SMM Analysis: Supply-Demand Price Spread Hard to Converge, Prices to Fluctuate in the Short Term] The SMM 10-12% high-grade NPI average price fell 5.7 yuan/nickel unit WoW to 1,140.3 yuan/nickel unit (ex-factory, tax included), while the Indonesian NPI FOB index average price fell 1.23 $/nickel unit WoW to 146.52 $/nickel unit. Downstream purchasing sentiment saw a more pronounced decline, with the divergence in mindset between upstream and downstream intensifying.

May 22, 2026 19:16

May 22, 2026 18:22

[SMM Analysis] Macro Uncertainty Weighs on Stainless Futures; Low Inventory and Demand Underpin Cash Market

This week's stainless steel futures market reflected a classic divergence: external macro headwinds drove paper weakness, while domestic spot fundamentals held firm. We break down what drove the disconnect and what to watch next.

May 22, 2026 18:22