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.
As a leading domestic waste incineration treatment company, Weiming Environmental Protection (603568) has been active in the new material business field since 2022.
Weiming Environmental Protection announced on the evening of April 25th that on April 24th, the company signed the "Strategic Cooperation Framework Agreement on Lithium Battery New Materials Project" with Shengtun Mining and Qingshan Holdings. , High-nickel ternary precursor production, high-nickel cathode material production and related supporting projects.
On April 25, Weiming Environmental Protection, Shengtun Mining, and Tsingshan Holdings also signed the "Wenzhou Lithium Battery New Material Industry Base Project Investment Agreement" with the People's Government of Longwan District, Wenzhou City.
The framework agreement stipulates that the three parties will cooperate to jointly plan and invest in the development of the above-mentioned projects in Wenzhou City, with an annual output of 200,000 tons of high-nickel ternary cathode materials, and the project will be constructed in phases.
The three parties intend to set up one or more joint ventures as soon as possible to invest in new lithium battery material projects directly or through affiliated companies; the equity structure of the joint venture is that Weiminghuan maintains 51% of the shares. Shengtun Mining holds 30% and Tsingshan Holdings holds 19%.
According to the project investment agreement, Weiming Environmental Protection plans to set up a joint venture project company in Longwan District, Wenzhou City, Zhejiang Province, build a lithium battery new material industry base, cooperate to promote the high-end industrial base of lithium battery new materials and modernize the industrial chain, and create an international influence. Power's iconic industrial chain of 100 billion lithium battery new energy. The base is expected to use about 1,500 mu of land.
As a non-ferrous metal mining and dressing enterprise focusing on nickel, cobalt, copper and zinc metal products, Shengtun Mining has continuously improved its layout in the field of energy metals in recent years, and has continuously injected high-quality assets and expanded its business scale around energy metals nickel, cobalt and copper.
The company's 2021 annual report disclosed on the evening of April 25th showed that during the period, it achieved operating income of 45.237 billion yuan, net profit of 1.031 billion yuan, a year-on-year increase of 1645.62%, and deducted non-net profit of 651 million yuan, a year-on-year increase of 378.03%.
In 2021, Shengtun Mining will invest in the construction of a new energy material project with an annual output of 300,000 tons of battery-grade nickel sulfate, 300,000 tons of battery-grade iron phosphate and 10,000 metal tons of battery-grade cobalt products in Fuquan City, Qiannan Prefecture, Guizhou Province. Shengtun Energy Metal Chemical (Guizhou) Co., Ltd., a wholly-owned subsidiary of the company, has a total investment of 6.193 billion yuan.
In addition, Hongsheng International, a wholly-owned subsidiary of the company, signed a joint venture agreement with Extension to set up Shengmai Nickel in Indonesia, and Hongsheng International holds a 70% stake in Shengmai Nickel. Shengmai Nickel Industry plans to build a high nickel matte project with an annual output of 40,000 tons of nickel metal in Indonesia Weidabe Industrial Park (IWIP), with a total investment of 350 million US dollars. According to the company's shareholding ratio, the foreign investment amount this time is 245 million US dollars, equivalent to 1.566 billion yuan.
Compared with Shengtun Mining, Weiming Environmental's investment in the field of new materials is obvious.
In January 2022, Weiming Environmental Protection announced that it will cooperate with Merit, a wholly-owned subsidiary of Indigo Company, to invest in the development and construction of a laterite nickel ore smelting project with an annual output of 40,000 tons of high nickel matte nickel-containing metal in Indonesia. The total investment of the project does not exceed 390 million US dollars. Calculated based on the company's shareholding ratio, the amount of this foreign investment will not exceed 273 million US dollars.
At that time, Weiming Environmental Protection said that it will cooperate with Merit in the fields of new environmental protection materials and new energy, and plan to develop low-grade nickel ore or tailings utilization technology, lay out the new energy industry chain, and build an international leading environmental protection energy enterprise, which is in line with the company's long-term development strategy.
Regarding the cooperation between Shengtun Mining and Tsingshan Holdings this time, Weiming Environmental Protection said that the signing of this agreement will help the company to strengthen cooperation with enterprises in the new material industry chain, actively develop new processes and technologies in the field of new energy, and develop new layouts. The energy new material industry chain will help expand the company's future business development space and conform to the company's long-term development strategy. The signing and performance of this agreement will not have a significant impact on the company's operating performance in 2022, but it will have a positive effect on the company's future expansion of new materials business.
On April 26, 2022, South 32 announced the production of CerroMatoso ferronickel in the first quarter of 2022. Its output in the first quarter was 10,600 tons, an increase of 49% year-on-year and a decrease of 1% month-on-month. The full-year production in 2021 is 38,300, an increase of 6% year-on-year. Cerro Matoso's nickel production has grown by 33% year to date due to, as well as the successful refurbishment of previous furnaces. In the nine months to March 2022, CerroMatoso nickel production increased by 33% (or 0.77 million tons) to 30.9 thousand tons, mainly due to the completion of a large furnace refurbishment in 2021, higher Q&P pit grades, average nickel production Grades improved by about 9% (1H22: 1.73%; 1H21: 1.58%).
Production guidance for 2022 remains unchanged at 43,800 tonnes.
The specific production and sales are shown in the table below:
On April 26, 2022, Canada's First Quantum Mineral released its first-quarter production report. The report showed that the Ravensthorpe nickel plant produced 5,122 metal tons in the first quarter, a year-on-year increase of 10.3% and a month-on-month increase of 51.3%; its The sales volume was 4,250 metal tons, a year-on-year increase of 84.6% and a month-on-month increase of 15.8%.
Production was limited in early January due to the closure of the entire plant and did not resume until mid-January 2022, but Ravensthorpe has delivered nickel production of 4,743 tons, up from about 1,900 tons in the fourth quarter of last year, mainly because the mine benefited from High grades and recoveries at the Shoemaker Levy project. Although Ravensthorpe faces similar inflationary pressures as the company's other mines, as well as higher labor costs, the cash cost of C1 nickel will decline from $10.93 per pound in the fourth quarter of 2021 to 2022 due to higher production and sales volumes $6.78 in the first quarter.
Ravensthorpe nickel production guidance for 2022 remains unchanged at 25,000-30,000 metal tons. The cash cost guidance for nickel prices was raised, and the C1 cash cost range of nickel prices rose to $6.25-7.00 per pound, and the AISC1 cash cost range rose to $7.50-8.50 per pound.
The specific production and sales are shown in the table below:
On April 28, 2022, Glencore released its first quarter report, which showed that nickel production in the first quarter was 30,700 tons, an increase of 22% year-on-year and a decrease of 2% month-on-month. Two production lines were operated in the year.
Integrated Nickel Operations (INO):
Nickel production was 15,900 tonnes, up 11% year-on-year, mainly due to different delivery times between own and third-party nickel and the Nikkelverk refinery.
Murrin Murrin:
Nickel production was 7,700 tons, an increase of 3% year-on-year.
Koniambo:
Nickel production was 7,100 tonnes, up 109% year-on-year, mainly due to Koniambo's simultaneous operation of two production lines in 2022.
The full-year nickel production guidance in 2022 will be changed from 115 ± 0.5 million tons to 11.8 ± 0.5 million tons.
The specific output is shown in the figure below:
In the first quarter of 2022, my country's new energy industry has developed rapidly, the production of the nickel-cobalt-lithium industry has grown steadily, and product prices have risen sharply.
1. The output of lithium increased year-on-year, while the output of nickel and cobalt decreased slightly. According to data from Beijing Antaike Information Co., Ltd., the output of lithium carbonate and lithium hydroxide in my country was 60,000 tons and 47,000 tons respectively in the first quarter, up 23.2% and 29.5% year-on-year; refined cobalt (including electrolytic cobalt, cobalt powder, cobalt salt) etc., in terms of metal content), primary nickel (nickel products produced from primary materials, including electrolytic nickel, nickel-containing pig iron, nickel salt, etc., in terms of metal content), the output was 30,000 tons and 172,000 tons respectively, down 2.2% and 1.8% year-on-year. %.
2, the price rose sharply. According to statistics from Beijing Antaike Information Co., Ltd., the average spot prices of electrolytic nickel and metal cobalt in the first quarter were 190,000 yuan/ton and 525,000 yuan/ton, respectively, up 43.2% and 54.4% year-on-year; Affected by multiple factors such as sharp rise in costs, insufficient upstream and downstream collaboration, and the spread of market panic, the price of lithium products rose sharply. The average spot prices of lithium carbonate and lithium hydroxide in the first quarter were 421,000 yuan/ton and 371,000 yuan/ton, respectively, a year-on-year increase. Up 456% and 492%.
3. Imports of nickel-cobalt-lithium smelting products and cobalt concentrates increased year-on-year, while imports of nickel concentrates decreased year-on-year. According to the data of the General Administration of Customs, in the first quarter, cobalt concentrate and cobalt hydrometallurgical intermediate products were imported 7,440 tons and 84,000 tons respectively, an increase of 277.8% and 23.4% year-on-year, electrolytic nickel was imported 55,800 tons, an increase of 74.9% year-on-year, and lithium carbonate imports 27,500 tons, a year-on-year increase of 44%. The import of nickel concentrate was 4.5 million tons, down 5.3% year-on-year, and the import of electrolytic cobalt was 837 tons, down 49.1% year-on-year.
400 series stainless steel is an alloy of iron, carbon and chromium. Because it does not contain nickel, it is a nickel-saving stainless steel, also known as stainless steel. 400 series stainless steel contains martensitic structure and iron element, which not only has normal magnetic properties, but also has strong resistance to high temperature oxidation. Compared with carbon steel, its physical and mechanical properties are further improved. And most 400 series stainless steels can be heat treated.
1. Composition and characteristics
The commonly used 400 series stainless steel varieties are 430, 410, 420, 409L, etc., of which 430 stainless steel is used the most. The chromium content of 430 stainless steel is 18%, which is characterized by low price, small thermal expansion coefficient, and chloride stress corrosion resistance better than 300 series stainless steel varieties; but its shortcomings are relatively obvious: formability, weldability and tensile strength. It is smaller than the 300 series stainless steel model, so its scope of use is limited. The chromium content of 410 and 420 stainless steel is 13%, and their main feature is high hardness. 400 series stainless steel has the same corrosion resistance as 300 series stainless steel in oxidizing media such as atmosphere, fresh water and nitric acid under the same chromium content, and is better than 200 series stainless steel. Adding trace amounts of niobium, titanium, copper, aluminum and other elements can improve its deep drawing performance, weldability, corrosion resistance and high temperature strength, and can partially replace 300 series stainless steel.
2. Steel classification
We know that stainless steel can be divided into ferrite, martensite and austenite according to different metallographic structures, while 400 series stainless steel is mainly ferrite and martensite.
Ferritic stainless steel: The chromium content is generally 12% to 30%, usually without nickel, and sometimes with a small amount of Mo, Ti, Nb and other elements, and the matrix structure is ferritic stainless steel in use. It has the characteristics of large thermal conductivity, small expansion coefficient, good oxidation resistance, and excellent stress corrosion resistance. However, there are disadvantages such as poor plasticity, significantly reduced post-weld plasticity and corrosion resistance. The application of out-of-furnace refining technology (AOD or VOD) can greatly reduce interstitial elements such as carbon and nitrogen, making it widely used. Common 400 series stainless steel models are 430 and 409L.
Martensitic stainless steel: stainless steel with a chromium content of not less than 12% (usually 12% to 18%), a high carbon content, a martensitic structure in use, and whose mechanical properties can be adjusted by heat treatment. In layman's terms, it is a type of hardenable stainless steel. Common 400 series stainless steel models are 410, 420, 440, and 436L.
3. Scope of application
400 series stainless steel has a wide range of applications. Below I will show you some related application fields. Exhaust pipe, muffler, tail pipe, catalytic converter, etc. of automobile exhaust system, the main steel grades are 409L, 444, 436L, 439, 441, 429.
Washing machine inner barrel, the main steel grades are 439, 430, 430J1
Tableware, kitchen sinks, soup utensils, composite pot bottoms, etc., the main steel grades are 430, 420J1, 420J2, 410s.
Building roofing materials, the main steel grades are 445 and 446M.
Summary: 400 series stainless steel occupies the same important position in our life as 200 and 300 series stainless steel, and is an indispensable good helper in our life. No matter where the weather is hot or cold, they are always ready for every job with their robustness!
On May 9, 2022, Nickel 28 released its first quarterly report, which announced the operating results of the Ramu Nickel-Cobalt Mine (“Ramu”) business for the quarter ended March 31, 2022. The integrated business of Ramu nickel-cobalt mine is the company's largest asset and is located in Papua New Guinea. Nickel 28 currently holds an 8.56% joint venture interest in the Ramu business, which is operated by China Metallurgical Group (“MCC”).
Ramu Business Highlights in Q1 2022:
Ramu produced 8,756 tonnes of nickel-containing MHP in the first quarter of 2022.
Ramu produced 830 tonnes of cobalt-containing MHP in the first quarter of 2022.
Ramu sold 3,336 tonnes of nickel-containing MHP in the first quarter of 2022.
In the first quarter of 2022, the average LME nickel price was US$11.97/lb, up 50% year-on-year and 33% month-on-month.
In the first quarter of 2022, the average cobalt price on Fast Markets was $36.24/lb. , an increase of 67% year-on-year and a month-on-month increase of 22%.
· Nickel-containing MHP cash cost, net of by-product gains of $1.48/lb, decreased 12% year-over-year.
Anthony Milewski, chairman of Nickel 28, said Ramu production returned to expected levels in the first quarter of 2022 as Papua New Guinea and the rest of Asia began to emerge from the global outbreak. Ramu was able to raise its cash cost in the quarter due to a significant improvement in by-product earnings, primarily cobalt earnings, despite a significant increase in raw material and input costs. It is expected that Ramu's full-year cost and production will remain at 32-33,000 tons of nickel-containing MHP, and the nickel cash cost is less than $2.00/lb (including by-product gains). Increased restrictions on major export destinations due to the global pandemic and the 2022 Winter Olympics impacted sales in the first quarter, which are expected to return to normal in the second quarter of 2022.
Below are Ramu's operating results for the quarter and how it compares to the previous year. Note that these data are unaudited.
Australian resource company Jervois Mining will produce the first cobalt and copper concentrates from its Idaho Cobalt Ore Company (ICO) in the United States, and will complete a nickel/cobalt study of Brazil's SaoMiguel Paulista (SMP) in July-September Refinery acquisition. According to the feasibility study, the SMP refinery can produce 10,000 t/y of metallic nickel and 2,000 t/y of metallic cobalt in the first stage, with initial commercial production expected in 2023, the Melbourne-based company said. A second stage feasibility study is currently underway to restore SMP to its full production capacity of 25,000 t/y nickel and 2,000 t/y cobalt, which is expected to be completed in the second half of this year.
PT Harum Energy Tbk (HRUM), through its subsidiary PT Harum Nickel Industry, has subscribed for 250,000 new shares in PT Westrong Metal Industry, representing 20% of Westrong Metal Industry's total issued and paid-in capital, at US$75 million. (Westrong Metal Industry is an Indonesian nickel refining company)
On May 9, 2022, Ray A Gunara, President of Harum Energy, said: "The purpose of this transaction is to further develop and expand business activities in the nickel industry and is the realization of HRUM's long-term business diversification strategy."
The smelter, owned by Westrong Metal Industry, uses Rotary Kring Electric Furnace (RKEF) technology and is scheduled to be built this year alongside infrastructure in the Weda Bay industrial area in the middle of Halmahera Regency. The smelter's annual nickel production will be between 44,000 tonnes and 56,000 tonnes of FENI or NPI.
