On July 19, Weiming (Singapore) Pte. Ltd., a subsidiary of Weiming Environment Protection, signed the Joint Venture Agreement for the Indonesia Laterite Nickel Ore Smelting Project to Produce Nickel Raw Materials Used in The New Energy Sector with GEM (Wuxi), CAHAYA, Jingmen GreenTech Engineering Partnership (Limited Partnership), and Shanghai PuXiao. The parties will jointly invest in Indonesia to establish a hydrometallurgical project for laterite nickel ore, targeting an annual production capacity of 20,000 metric tons of nickel metal for new energy applications.
Nickel is a critical mineral resource for the global new energy sector. With the explosive growth of the new energy vehicle industry, ternary lithium batteries have become the mainstream power source, driving strong market prospects for nickel resource development. Since early 2022, Weiming has entered the new energy materials field, investing in three high-grade nickel matte projects in Indonesia with a total annual capacity of 130,000 metric tons of nickel metal, securing a strategic advantage in raw material sourcing for new energy materials.
Currently, the company’s first high-grade nickel matte project in Indonesia—the Jiaman Project—has maintained tight construction timelines and steady progress since its groundbreaking on September 28, 2022. The project is set to enter the equipment installation phase in the third quarter of this year.
This new investment in the laterite nickel ore hydrometallurgical project marks another expansion in Weiming’s new energy materials portfolio. By collaborating with long-term partner GEM and new ally CAHAYA, the company aims to amplify its nickel resource development strengths, creating favorable conditions for further growth in the new energy materials sector.