CNGR to develop high nickel precursor project in South Korea
2023-06-25 11:03:51 [Print]
CNGR's wholly-owned subsidiary Hong Kong CNGR Hongchuang New Energy and POSCO Future M plan to cooperate on a 110,000tpy high-nickel precursor project in Pohang, South Korea, with total investment estimated at RMB6.1 billion (USD850 million). The two sides will set up a joint venture in which CNGR Hongchuang and POSCO Future M holds 80% and 20% stake respectively to develop the cathode material project.
In addition, Hong Kong CNGR Xingchuang New Energy, another wholly-own subsidiary of CNGR, plans to build a nickel refinery with POSCO Holdings in Pohang, with fixed investment estimated at RMB2.2 billion (USD306 billion). CNGR Xingchuang and POSCO Holdings plan to form a 40-60 joint venture to develop the project.
In addition, Hong Kong CNGR Xingchuang New Energy, another wholly-own subsidiary of CNGR, plans to build a nickel refinery with POSCO Holdings in Pohang, with fixed investment estimated at RMB2.2 billion (USD306 billion). CNGR Xingchuang and POSCO Holdings plan to form a 40-60 joint venture to develop the project.
Nickel Cathode 99.96%min EXW China
Unit:RMB/mt
China refined nickel producers' inventory to production ratio statistics by province by month
Unit: %
