China’s Tsingshan Holding Group has signed agreements to provide nickel matte, which is used to make batteries for electric vehicles (EVs), to Huayou Cobalt and battery materials maker CNGR Advanced Material.
The Chinese nickel and stainless steel giant had agreed to provide 60,000 tonnes of nickel matte to Huayou and another 40,000 tonnes to CNGR within a year, starting from October 2021.
Chinese firms have been stepping up focus on EVs in the world’s major market for such vehicles, as Beijing heavily promotes greener vehicles as a way to reduce chronic air pollution.
Last July, Tsingshan started trial production of nickel matte with more than 75% content of the metal to meet the increasing demand for EV batteries.
Tsingshan has also planned to expand investments in Indonesia, and expected its nickel equivalent output to reach 600,000 tonnes this year, 850,000 tonnes in 2022 and jump to 1.1 million by 2023.
