In its recent “2024 Half-Yearly Results Announcement,” Zhongwei detailed significant progress in its nickel industry projects in Indonesia. The company has established four major raw material production bases for nickel smelting in the country, with a combined capacity of 200,000 metal tons, either completed or under construction. This development ensures a reliable and autonomous supply of nickel raw materials required for Zhongwei’s precursor production.
Zhongwei emphasized that it will not consider building nickel raw material bases in other regions at present, focusing instead on its Indonesian projects. The company’s investment in nickel production capacity is aimed at maintaining a stable and sufficient supply of raw materials.
Zhongwei is also pioneering the use of the Oxygen Enriched Side Blow Furnace (OESBF) process for nickel smelting, marking the first industrial application of this technology worldwide. This innovative process offers several advantages, including higher energy efficiency, lower-grade ore adaptability, and a nickel recovery rate exceeding 93%. Additionally, it enables the recovery of associated cobalt and produces smelting slag that can be repurposed for construction materials, minimizing environmental impact.
The company has set up four nickel raw material sites in Indonesia, with significant progress made since the initiation of the Morowali industrial site in Sulawesi in 2021. This site, Zhongwei’s first overseas industrial base, marks the company’s primary nickel raw material security hub. Since then, three additional sites in Weda Bay, South Kalimantan, and North Morowali have been sequentially commissioned.
By mid-2024, three of these sites had commenced production, with the Weda Bay site reaching full production capacity. Production lines at the Morowali and North Morowali sites are currently ramping up, and the first batch of nickel products from these sites, totaling over 10,000 tonnes, has been shipped to Zhongwei’s precursor factories in China.
Looking ahead, Zhongwei plans to adhere to its strategy of “Technology Diversification, Industry Ecologization, Globalization, and Operation Digitization.” The company aims to strengthen its vertically integrated supply chain, encompassing “Smelter, Refinery, PCAM, and Recycling,” to provide zero-waste, low-carbon, and recyclable new energy materials globally. 
