Hongsheng International Resources Co, a wholly-owned subsidiary of Chengtun Mining Group, intends to sign a joint venture agreement with Extension Investment Pte. Ltd to establish Chengmai Nickel Co. in Indonesia. The initial authorised registered capital is $1million.
China's Chengtun Mining Group Co Ltd said on Thursday it would invest $245 million in a project to make nickel matte in Indonesia as a raw material for electric vehicle (EV) battery chemicals.
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