In 2023, Jinchuan Group achieved excellent accomplishments with an operating income reaching 353 billion yuan ($49.21 billion) and an industrial total output value of 253 billion yuan, ranking 289th on the Fortune Global 500 list.
Over the past year, Jinchuan has focused on strengthening resource security and enhancing the stable supply of raw materials for projects, in a bid to lay a solid foundation for the optimization and upgrading of traditional industries.
The flash furnace production command center of Jinchuan Group Nickel Smelter
The flash furnace of Jinchuan Group Nickel Smelter, acclaimed as the "No.1 furnace in Asia," is a typical representative of Jinchuan Group’s traditional industries. Over the past 30 years, the nickel flash smelting system has continuously deepened reforms, fully leveraging its advantages of high productivity and low consumption. The successful implementation of steam drying processes, 5G integration with intelligent ore blending systems for flash furnaces, and the substitution of central gas for central oil are among the company's numerous digitalization projects.
"Jinchuan Group has always regarded resources as the lifeline of the company," said Ruan Ying, Party secretary of the CPC Jinchuan Group committee and chairman of Jinchuan Group. As the world's leading nickel-cobalt production base, platinum group metal refining center and the largest copper producer in northern China, Jinchuan Group always takes the initiative to serve national strategies.
In order to address the bottleneck and advance the development of deep processing of nickel and cobalt to a higher level, Jinchuan Group has been continuously optimizing processes and upgrading key equipment. It has been focusing on areas such as pure nickel strips, electric heating alloys, precision alloys, expanding the deep processing product chain, nickel-based nuclear power materials and aerospace materials, conductive nickel powder, automotive turbochargers, large coil wide nickel strips, and medical alloys. These efforts have been driving rapid growth in the high value-added product sector.
The ultra-thin pure nickel foil production line of Jinchuan Group Nickel Alloy Co., Ltd.
In 2023, the annual production of "hand-tearable nickel," with a thickness of just 0.05 millimeters, exceeded 60 tons, successfully achieving large-scale production; the production of carbonyl nickel pellets also successfully entered the market, ending the long-term reliance on imported ones.
Recently, following "hand-tearable nickel," a production line for ultra-thin, high-precision copper strips with a thickness of just 0.05 millimeters has been put into mass production, and "hand-tearable copper" has since been unveiled by Jinchuan.
Through technological innovation, the "inherited treasure" of the company, Jinchuan has achieved a magnificent transformation from a raw material provider to a fine material producer.
Jinchuan Group's 100,000 ton/year nickel sulfate solution upgrade project for power batteries
Meanwhile, the company's emerging industry has also flourished.
With the rapid development of the new energy vehicle industry, there has been a substantial increase in demand for nickel sulfate for power batteries. In 2023, Jinchuan Group completed the construction of and commenced production on the 100,000 ton/year nickel sulfate solution upgrade project for power batteries. This has enabled Jinchuan Group Nickel Salts Co., Ltd. to reach a production capacity of 200,000 tons of nickel sulfate.
Behind these impressive accomplishments is Jinchuan’s commitment to the development strategy of expanding strategic resources, optimizing traditional industries, and nurturing emerging industries. With determination, innovation, and practical efforts, the company has been vigorously striving to compose a vibrant practice of a new chapter in high-quality development.
