Indonesia Miner
Welcome to Indonesia Miner
Home / Directory / List News / Detail News

Vale Indonesia signs HPAL deal with China’s Huayou

www.mining.com

Thu 15 Sep 2022, 08:00 AM

Share

Events
Nickel miner PT Vale Indonesia on Tuesday signed an agreement with China’s Zhejiang Huayou Cobalt to build a second high-pressure acid leach (HPAL) plant to produce nickel material used in batteries to power electric vehicles.

Under the heads of agreement, Vale and Huayou plan to build an $1.8 billion HPAL plant in Sorowako, South Sulawesi, to produce 60,000 tonnes of nickel in mixed hydroxide precipitate (MHP), chief executive Febriany Eddy told reporters.

Vale in April had also signed a deal with Huayou to develop an HPAL plant in Pomalaa, Southeast Sulawesi, to produce 120,000 tonnes of MHP. US carmaker Ford Motor Co. later joined the partnership for this plant.

Similar to the agreement for Pomalaa, Huayou would also build the plant in Sorowako with Vale reserving the rights to buy stake at the plant, chief financial officer Bernardus Irmanto added.

Febriany said a final investment decision (FID) for the Pomalaa plant is expected by the end of this year and a FID for Sorowako to follow next year.

Construction of each plant would take around three years at the most, she said.

“These are strategic projects for Vale because they will produce MHP, which is a material for electric car batteries,” Febriany added.

Indonesia is keen to utilise its rich nickel reserves to attract investment into metal processing, production of electric vehicle battery material and ultimately building EVs in the country.

The government had banned exports of unprocessed nickel ore to ensure sufficient supplies for investors, which include major metal companies from China, as well as South Korean companies such as LG Energy Solution and Hyundai Motor.

Last week, Vale also signed a $2.1 billion deal with China’s Shandong Xinhai Technology and a unit of China Baowu Steel Group to build a refinery to produce ferronickel.

Source: https://www.mining.com/web/vale-indonesia-signs-hpal-deal-with-chinas-huayou/

Image source: www.mining.com

Source Link: https://www.mining.com/web/vale-indonesia-signs-hpal-deal-with-chinas-huayou/

Advertisement

Relate News

News
16 Nov 2023, 09:00 AM

Amman Mineral's (AMMN) Capex Absorbed IDR 7.5 Trillion

EmitenNews.com
3638 Views
News
12 Aug 2024, 13:39 PM

Harita Targets European Expansion with a Focus on Securing Responsible Mining Certification

Katadata/Lona Olavia
2100 Views
News
27 Jun 2022, 10:43 AM

Delta Dunia DOID Targets Revenue of IDR 21.75 Trillion in 2022

www.market.bisnis.com
3652 Views
News
19 Oct 2023, 09:00 AM

Freeport Targets Copper Cathode Production at Gresik Smelter to Operate in August 2024

Shutterstock/tss
4246 Views
Hello! We would like to talk to you.Please fill the details below to start chatting with us.