The utilization rate of Lygend Resources & Technology’s (HKG:2245) eight ferronickel production lines in Indonesia exceeded 100% at the end of August, the company said in a Monday filing.
The total production of the ferronickel plant, which is in the first phase, reached more than 8,000 metal tons by the end of the month. The industry chain service provider is aiming for the plant’s production capacity to reach 95,000 metal tons of ferronickel every year.
This remarkable achievement highlights Lygend Resources & Technology’s commitment to expanding its presence in the global ferronickel market. The utilization rate exceeding 100% is a testament to the company’s dedication to optimizing its production processes and delivering high-quality products to meet the growing demand for ferronickel.
The success of Lygend’s ferronickel plant in Indonesia underscores the company’s strategic vision for the future. With the first phase already producing over 8,000 metal tons, the company is well on its way to achieving its ambitious goal of reaching an annual production capacity of 95,000 metal tons of ferronickel. This expansion is expected to significantly enhance Lygend’s position in the ferronickel industry and strengthen its role as a vital industry chain service provider.
Lygend’s progress in Indonesia not only showcases its operational excellence but also underscores its contribution to the local economy and employment opportunities in the region. As the company continues to scale up its production capacity, it will likely create more jobs and generate economic growth, contributing positively to the communities it serves.
In conclusion, Lygend Resources & Technology’s recent performance in Indonesia reflects its dedication to meeting the growing demand for ferronickel while striving for operational excellence and sustainable growth. As it works towards achieving its annual production target, the company is poised to make a significant impact on the global ferronickel market and the local communities in which it operates.
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