In response to investor inquiries on an interactive platform, GEM stated that in 2025, the company's nickel resource capacity was fully utilized, with shipments of Mixed Hydroxide Precipitate (MHP) exceeding 110,000 tonnes in Ni. content (including equity-based volumes), representing a year-on-year increase of over 110% compared to 2024. Since July 2025, its 150,000 tonnes per year nickel resource capacity has maintained full production, and it is expected to continue operating at full capacity in 2026.
The company's nickel resource projects demonstrate industry-leading profitability:
First, the company uses high-pressure acid leaching (HPAL) hydrometallurgy to produce MHP, which offers lower costs and lower carbon emissions compared to pyrometallurgical processes. This method efficiently processes low-grade laterite nickel ore with broad raw material sources and low costs.
Second, in 2025, the company produced nearly 10,000 tonnes of cobalt metal from its nickel resource projects (including equity-based volumes), meeting a core portion of global cobalt product supply and significantly enhancing the profitability of its MHP products.
Third, through continuous optimization of production costs, the substitution of active magnesium oxide for the original precipitant has notably increased the nickel and cobalt content in MHP products while reducing the moisture content of filter cake, successfully achieving both cost reduction and efficiency improvements.
Written by Cora Ji, jiruyan@mysteel.com
