KONTAN.CO.ID - SOROWAKO. U.S. carmaker Ford Motor Co signed a final investment agreement with PT Vale Indonesia, and China's Zhejiang Huayou Cobalt on Thursday to build a $4.5 billion nickel processing plant in Indonesia's Southeast Sulawesi. The high-pressure acid leaching (HPAL), located in Pomalaa where Vale operates a nickel mine, is expected to produce 120,000 tonnes a year of mixed hydroxide precipitate, material extracted from nickel ore that is used in batteries for electric vehicles. Indonesia, which has the biggest nickel reserves in the world, has been trying to develop downstream industries for the metal, with ambitions to eventually produce batteries and electric vehicles.
Ford, Vale Indonesia, Huayou Sign Deal for US$ 4.5 Billion EV Battery Material Plant
KONTAN.CO.ID - SOROWAKO. U.S. carmaker Ford Motor Co signed a final investment agreement with PT Vale Indonesia, and China's Zhejiang Huayou Cobalt on Thursday to build a $4.5 billion nickel processing plant in Indonesia's Southeast Sulawesi. The high-pressure acid leaching (HPAL), located in Pomalaa where Vale operates a nickel mine, is expected to produce 120,000 tonnes a year of mixed hydroxide precipitate, material extracted from nickel ore that is used in batteries for electric vehicles. Indonesia, which has the biggest nickel reserves in the world, has been trying to develop downstream industries for the metal, with ambitions to eventually produce batteries and electric vehicles.