FNI seals 20% stake purchase in Chinese ore processor

Global Ferronickel Holdings Inc. (FNI) has finalized its acquisition of a 20% stake in Guangdong Century Tsingshan Nickel Industry Co. Ltd. (GCTN) from GHGC Holdingskl Ltd.

GCTN is a nickel alloy enterprise in China operating one of the world’s advanced smelters with RKEF technology in a 33-hectare facility employing over 600 employees.

The plant uses a rotary kiln technology that produces about 28,000 tons of pure nickel annually.

GCTN caters to customers in Guangdong’s Economic and Technological Development Zones and abroad.

“The acquisition is expected to create reliable and consistent synergies between FNI as a nickel ore supplier and GCTN as a value-added processor, and support our ongoing diversification projects to boost profitability,” said FNI president Dante R. Bravo.

This initiative will help manage risks, optimize value to stakeholders, and develop downstream integration of the value chain.

To complement its expansion targets, FNI continues to pursue investments in high-growth firms and industries that can enhance operational and cost efficiencies.

FNI counts Platinum Group Metals Corp. (PGMC) as a subsidiary and Ipilan Nickel Corp. (INC)as an affiliate. PGMC is a leading nickel ore producer, while INC has just conducted its maiden shipment of nickel ore to China.

ERC to look into complaints of overcharging by power firms

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