On May 23, 2024, the London Metal Exchange (LME), the world's largest base metals trading center, announced that the "DX-zwdx" brand electrolytic nickel produced by Indonesia's CNGR Dingxing New Energy Co., Ltd. has been certified and registered by the LME, officially becoming an LME nickel delivery brand. The announcement means that pure nickel produced in Indonesia has obtained a "global passport," making it the first LME nickel delivery brand in Southeast Asia. This achievement not only strengthens the global influence of Indonesia's nickel industry but also promotes the development of the nickel industry in both Indonesia and Southeast Asia.
Founded in 1877, the LME has become the world's largest base metals trading center, trading copper, aluminium, lead, zinc, nickel, and aluminium alloy. The official prices it publishes daily are used as the basis for pricing physical metal contracts in the industry. Its prices and inventories have significant impact on the production and sales of base metals worldwide.
CNGR Dingxing is a joint venture between CNGR and RIGQUEZA INTERNATIONAL PTE. LTD.,. Through the establishment of the JV, both shareholders are committed to the deep processing of the Indonesian laterite nickel ore, promoting the downstream expansion of Indonesia's nickel industry and increasing the value added of the products. In September 2022, the JV company commenced the construction of an electrolytic nickel production line with an annual capacity of 50,000 tons at the CNGR Indonesia Morowali Site. The project was completed and put into production in June 2023, making it the first company in Indonesia to produce pure nickel. It also helps Indonesia enter the era of "pure refined nickel" production.
The "DX-zwdx" brand electrolytic nickel process uses CNGR's proprietary efficient hydrometallurgical treatment process for high-nickel matte. This unique process has obvious advantages such as low energy consumption, high recovery rate, and high automation. The raw material high-nickel matte undergoes preparation, two-stage leaching, extraction, and electrodeposition, and is finally converted into electrolytic nickel with a nickel content of 99.99%, which meets the highest national standards. The final product features high purity, low impurity content, high melting point, strong corrosion resistance, and also possesses special physical properties such as magnetism, magnetic elongation, and shrinkage. It is mainly used in the production of stainless steel, high-nickel alloys, nickel plating, cast steel, alloy steel, batteries, and other products, which are widely used in aerospace, high-end electronic components, medical equipment, and other fields.
This "DX-zwdx" brand electrolytic nickel is the second LME nickel delivery brand under CNGR, following the successful registration of the "CNGR" brand pure nickel in February this year. This makes CNGR an company with LME nickel delivery brands in both China and Indonesia. It also enables the company to build a sustainable and resilient supply chain with diversified raw material supplies in order to cope with global nickel metal price fluctuations, and avoid negative price differential losses, and hedge business risks. As a global new energy materials company, CNGR always adheres to the principle of being "customer-oriented," and attaches great importance to building its supply chain to ensure reliable, high-quality, and sustainable supply of critical raw materials. On this basis, the company has established a vertically integrated value chain including resources, ore refining, raw material refining, new energy materials production and recycling. In parallel, it continues to improve its semi-finished products system. For example, for nickel metals, CNGR has established a raw material system covering MHP, high-nickel matte, low-nickel matte, nickel beans/powder, and other combinations to ensure a diverse supply and meet the supply needs of global customers.
