Friday, June 14, 2024

A major Chinese nickel processing company expands investment in Indonesia

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CNGR, a major Chinese company in the nickel processing industry and a key supplier of battery components for US electric car producer Tesla, is aggressively increasing its investments in Indonesia.

This was revealed by the Coordinating Minister for the Economy Airlangga Hartarto during his visit to CNGR’s integrated industrial facilities in Qinzhou, China. He was received by CNGR Chairman Deng Wei Ming on Sunday, May 26, 2024.

“CNGR, as an integrated industry in nickel processing, produces ternary precursor synthesis and electrolytic nickel. CNGR plans to invest Rp168.2 trillion (US$10.5 billion) over the next 20 years,” Airlangga said in a statement on Monday, May 27, 2024.

Since 2021, the company has already invested US$32.1 trillion in Indonesia. CNGR has established nickel processing facilities in Central Sulawesi’s Morowali and North Morowali regencies, Weda Bay in North Maluku’s Central Halmahera regency, and Batulicin in South Kalimantan’s Tanah Bumbu regency.

Currently, CNGR is developing an integrated industrial area in North Konawe, Southeast Sulawesi, called the Konasara Green Tech Industrial Zone (KITHK), which spans over 5,000 hectares. Construction is set to begin in the fourth quarter of 2024 and is expected to create 28,000 local jobs.

To ensure the sustainability of natural resources and the resilience of Indonesia’s mineral reserves, CNGR is processing nickel ore using OESBF (Oxygen Enriched Side Blown Furnace) technology, the first of its kind in the world.

“This technology allows for the utilization of nickel ore with a wider range of grades, energy efficiency that minimizes carbon emissions, and environmentally friendly waste production that can be utilized by other industries,” Airlangga said.

In addition to aligning with Indonesia’s mineral downstreaming policy, CNGR has successfully produced 99.99 percent pure electrolytic nickel.

As of May 23, 2024, this achievement has integrated Indonesian nickel into the London Metal Exchange (LME) metal supply chain.

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