Aug 09, 2019
Shengtun mining announced today that it plans to build a high-ice nickel project with an annual output of 34,000 tons in weidabe industrial park in Indonesia, with a total investment of 4067.9 million us dollars. The following items are included in the announcement:
Based on the rapid development of global new energy industry, the rapid expansion of battery and stainless steel capacity, and the rapid growth of nickel demand, the company plans to invest in the high-ice nickel project with an annual output of 34,000 tons of nickel metal in weidabei industrial park in Indonesia (hereinafter referred to as the "project"). The project is located in hammahela island in maluku islands, Indonesia, which belongs to north maluku county of maluku province. The specific construction site is in the wiwip industrial park (IWIP), and the south of the project is adjacent to the provincial road and nickel mine transportation terminal, with convenient transportation. The project is a pyrometallurgical system, with the construction of 4 drying rotary kilns, 4 roasting rotary kilns and 4 mineral thermal furnaces. The annual output of the project is expected to be 43,590t of high ice nickel and 34,000t of nickel content. According to the feasibility study of the project, the project construction period is two years, 70% of the designed production capacity is reached in the third year, and the designed production capacity is reached in the fourth year, and the production period is 16 years. The total investment of the project is us $406,790,000, including construction investment of us $314,980,000, interest of us $22,000,000 during construction period and working capital of us $69,820,000. The company plans to increase the capital by usd 5,500,000 through its wholly-owned subsidiary hongsheng international resources co., LTD. (hereinafter referred to as "hongsheng international"). After the capital increase is completed, the company will hold 55% of the equity of huawei nickel industry. HuaWei nickel industry and the green science and technology co., LTD. (hereinafter referred to as the "everlasting youth science and technology") in Hong Kong to set up a subsidiary of hengtong Asia technology co., LTD. (hereinafter referred to as "hengtong Asia") is a joint venture set up in Indonesia friends mountain Indonesia nickel industry co., LTD. (hereinafter referred to as the "nickel industry friends mountain"), to investment main body of Indonesia as weft da bei industrial park of high grade nickel project yearly produces 34000 ton nickel metal quantity. The authorized registered capital of youshan nickel industry is usd 30,000,000, 65% of which is held by huawei nickel industry and 35% by hengtong Asia. Based on the shareholding ratio of the company, the amount of the company's outward investment is 145,427,425 us dollars, equivalent to 1,023,809,072 yuan (calculated according to the exchange rate of 1 us dollar =7.04 yuan).
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