Ningbo Lygend Resources Technology Co., Ltd. (Lygend Resources) has issued a positive profit alert for the first half of 2025. The company forecasts profit attributable to owners of the parent between Yuan 1.2 billion and Yuan 1.5 billion for the six months ended June 30, 2025--representing year-on-year growth of 104.4% to 155.5%. This compares to Yuan 587 million in the same period last year.
The growth stems from Lygend's joint investments with Indonesian partners in hydrometallurgical (HPAL) and pyrometallurgical (RKEF) nickel laterite projects on Obi Island, Indonesia. With combined annual design capacity of 400,000 tonnes in Ni. content, the HPAL project's full 120,000-tonne capacity is now operational. For the RKEF project's total 280,000-tonne capacity: The equity-accounted HJF project (95,000-tonne capacity) operates at full production. The controlling KPS project (185,000-tonne capacity) has commenced partial operations, with full completion expected in 2026.
Written by Cora Ji, jiruyan@mysteel.com
