Shanghai-listed company Zhejiang Weiming Environment Protection (Zhejiang Weiming) will collaborate with the Shanghai-listed Chengtun Mining Group (Chengtun Mining) and the nickel giant Tsingshan Group on a nickel matte project which will be located in Wenzhou, Zhejiang Province. 

The three companies plan to jointly design, invest, develop and construct a project covering nickel matte refining, high-nickel ternary precursor production, high-nickel cathode material production and other related supporting items. The planned annual production capacity is 200,000 tonnes of high-nickel ternary cathode materials, Kallanish learns. 

The three parties will form one or more joint venture(s), in which Zhejiang Weiming will hold 51% of the total shares, Chengtun Mining will hold 30% of the total shares, and 19% will be held by Tsingshan Group. 

The announcement was released on 26 April via the Shanghai Stock Exchange. On 25 April, the three companies and the people's government of Longwan District, Wenzhou City, signed the investment agreement for this project. On 24 April, the three companies signed the strategic cooperation framework agreement.