2024-03-18 09:33:55
Nickel miner PT Vale Indonesia is exploring a potential investment in a high-pressure acid leaching plant on the island of Sulawesi, estimated to cost Rp30 trillion ($1.91 billion), the country said on Monday. ministry of investment.
The plant, called “SOA HPAL”, will be the company’s third such project to process nickel ore into mixed hydroxide precipitate (MHP) – a material used to make electric vehicle batteries, according to the presentation material shown by Indonesian Investment Minister Bahlil Lahadalia.
A Vale Indonesia spokesperson declined to comment.
The plant might have an annual production capacity of 60,000 tonnes of nickel in MHP, the ministry said, adding that Vale Indonesia is completing its final phase of exploration and will partner with automobile manufacturers.
Vale Indonesia already has two HPAL factories under construction on the island of Sulawesi, in Pomalaa and Sorowako. Both projects are in partnership with Zhejiang Huayou Cobalt.
American automaker Ford is participating in the $4.5 billion Pomalaa plant.
Last month, Indonesia’s state-owned mining company MIND ID agreed to acquire a 14% stake in Vale Indonesia from Vale Canada and Japan’s Sumitomo Metal Mining to become a major shareholder. ($1 = 15,685.0000 rupiah) (Reporting by Stefanno Sulaiman, Editing by Louise Heavens)
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