Make Kitco Your Homepage

Vale Indonesia expects to complete nickel HPAL plant by 2025

Kitco News

JAKARTA, Nov 28 (Reuters) - Indonesian nickel miner PT Vale Indonesia expects to complete construction by 2025 of a high-pressure acid leaching plant to produce nickel minerals used in electric vehicle (EV) batteries, its director said on Monday.

Vale on Sunday broke ground on the plant, which is expected to have a production capacity of 120,000 tonnes of nickel in mixed hydroxide precipitate per year, making it the biggest in the world yet.

"Construction is estimated to be completed at the end of 2025," said Vale Indonesia director Bernardus Irmanto.

Vale worked with Zhejiang Huayou Cobalt to build the plant in the nickel-rich Pomalaa region in Indonesia's Sulawesi island, with a total investment of 67.5 trillion rupiah ($4.29 billion), Vale CEO Febriany Eddy said on Sunday. Under the agreement, Huayou will develop the Pomalaa project in Southeast Sulawesi and Vale will have rights to acquire up to 30% stake in the project, Vale said previously, adding that it would supply nickel ore for the project. Indonesia has ambitions to build a homegrown EV industry.

($1 = 15,730.0000 rupiah) (Reporting by Bernadette Christina; Editing by Kanupriya Kapoor)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.