IMIP Boss Calls CNGR Deserves To Break The London Metal Exchange Exchange Exchange

Illustration (Photo: Doc. ANTARA)

JAKARTA - CEO of PT Indonesia Morowali Industrial Park (IMIP) Alexander Barus opened his voice regarding nickel products owned by PT CNGR Ding Xing New Energy which managed to penetrate the London Metal Exchange (LME).

While one of the oldest exchanges in the world, he said, getting into LME is not an easy process.

For this reason, Alex revealed that he was proud of the achievement of the CNGR.

"We will see for ourselves the CNGR in Morowali, according to a new technology in the nickelmate production process. Why is nickel mate production because CNGR is the world's main company that supplies precursors for batteries," he said in the Mining Zone quoted Monday, June 10.

Since 2022, he said, CNGR has also been keen to increase research so that it is appropriate to be included in the ranks of companies that can trade nickel in the eyes of the world.

Furthermore, Alex said, in producing nickel, CNGR pays attention to environmental impacts so that it does not only use the Rotary Klin Electric Furnace (RKEF) technology but also a klin dryer.

"They view the environment as important, so next to the rotary he uses a standard klin dryer. In his furnace he uses oxygen so that the furnishing process is clean and it can also be seen that all the metal in the nickel they get back, so that CNGR can produce 99.9 percent nickel into a hyperty," explained Alex.

This high-level nickel, he said, could then be used for fine equipment such as batteries, airplanes and various other products.

"We are proud of their ability to enter, and in terms of business it will be our medium to get the first hand information from LME," continued Alex.

Alex hopes that the existence of CNGR in LME in the near future will have a considerable impact and have an influence so that nickel prices are no longer controlled by either party.

"We hope that world prices will no longer be controlled on one side but we will also influence them. From the side of our ability to enter special nickel community in the world, it has been proven," concluded Alex.

Previously, through CNGR, the London Metal Exchange (LME) approved the recording of the first processed nickel brand from Indonesia, code "DX-zwdx" at the end of May.