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

Huayou Cobalt boosts nickel capacity in Indonesia

Huayou Cobalt

Fri 28 Jul 2023, 10:00 AM

Share

Events

China’s Zhejiang Huayou Cobalt said on Tuesday it will invest in a $200 million nickel sulfate project in Indonesia, expanding its production of the key battery raw material.

Huayou subsidiary Huayao International Investment will build the 50,000 metric ton project in a joint venture with Singapore-based Strive Investment Capital and Lindo Investment PTE, according to the Chinese company.

One of the world’s top battery material makers, Huayou has been expanding its capacity in ternary precursors and cathode materials both at home and overseas, said Susan Zou, a Shanghai-based vice president at Rystad Energy.

“This is a strategic move to expand into the upstream supply chain for its product,” she said.

The joint venture will be called Huaxiang Refining Indonesia, according to the company.

Huayou also said on Tuesday that its mining unit Huayou International Mining plans to buy a 50.15% stake in privately owned Perlux Limited for $200.4 million.

The deal will give Huayou ownership of two ferro-nickel production lines in Indonesia with annual output of 24,000 metric tons nickel content, it said.

Huayou, a leading producer of nickel and cobalt, is also stepping up investment in lithium and commissioned a $300 million lithium plant in Zimbabwe earlier this month.

Image source: Huayou Cobalt

Source: https://www.mining.com/web/huayou-cobalt-boosts-nickel-capacity-in-indonesia/

Image source: Huayou Cobalt

Source Link: https://www.mining.com/web/huayou-cobalt-boosts-nickel-capacity-in-indonesia/

Advertisement

Relate News

News
22 Apr 2024, 17:38 PM

Aneka Tambang (ANTM) Ready to Boost Production this Year

KONTAN / Doc. ANTAM
3370 Views
News
12 May 2023, 12:00 PM

Indika Energy (INDY) Collaborates with Bukopin on EV Development Ecosystem

www.idxchannel.com
2750 Views
News
21 Oct 2022, 10:00 AM

ATS Appreciates PT Vale to Support Vocational Training Program

rakyatku.com
2613 Views
News
17 Aug 2023, 08:00 AM

Sumber Global Energy Secures $187 Million Coal Supply Contract from Vietnam

Handout
2588 Views
Hello! We would like to talk to you.Please fill the details below to start chatting with us.