Weiming Singapore Company intends to participate in the laterite nickel ore smelting project with an annual output of 40,000 tons of high nickel matte nickel-containing metal (Indonesia)

Weiming Environmental Protection announced that the company intends to use its subsidiary Weiming Singapore as the investment entity, and establish a joint venture project company with Merit International Capital Limited (referred to as "Merit Company") to invest in laterite nickel ore smelting with an annual output of 40,000 yuan of high matte nickel-containing metal. Ton (Indonesia) project (referred to as "high nickel matte project"), the final authorized capital of the project company does not exceed 120 million US dollars (or equivalent in other currencies).

The company and its related party Shanghai Puxiao Enterprise Management Partnership (Limited Partnership) (referred to as "Shanghai Puxiao") intend to jointly invest 120 million Singapore dollars (or the equivalent of other equivalents) in the holding subsidiary Weiming Singapore Company by means of monetary capital increase and loan. Currency), the company and Shanghai Puxiao plan to determine the proportion of capital increase and loan amount according to the actual situation within the joint investment quota; the company and Shanghai Puxiao plan to increase the capital of Weiming Singapore Company in a timely manner according to their respective shareholding ratios. After the capital increase, Weiming Singapore The registered capital of the company shall not exceed 120 million Singapore dollars (or equivalent in other currencies), and the shareholding ratio of each shareholder shall remain unchanged after the capital increase; Proportionately lend to it.

The announcement shows that the high nickel matte project, with an annual output of 40,000 tons of high nickel matte metal containing nickel, is located in WedaBay Industrial Park (IWIP), Halmahera Island, Indonesia, with a total investment of no more than US$390 million.

According to the announcement, this joint investment is to meet the needs of Weiming Singapore Company to operate and promote the construction of the high nickel matte project. The company's participation in the same proportion of investment is in line with the company's long-term planning and development strategy.