In April 2020, SRN signed a non-binding heads of agreement with Shandong Xinhai Technology Co., Ltd, (“SXH”) to build and operate a RKEF (Rotary Kiln Electric Furnace) with a NPI production capacity of 350k tonnes per annum with an estimated Nickel content of 10-12%.
SXH is a global leader in RKEF processing technology with 55% of China’s total market share. It has a production capacity of 1.9M tonnes of ferronickel per annum and also generates 10B KWH of electric power. SXH is located in the Economic Development Zone of Junan County, Linyi, Shandong Province, China.
More information can be found on the SGX announcement link here.