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Ford joins PT Vale Indonesia and Huayou in Pomalaa nickel project; offtake agreement

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PT Vale Indonesia Tbk and China’s Zhejiang Huayou Cobalt Co. creating a three-party collaboration to advance more sustainable nickel production in Indonesia and help make electric vehicle batteries more affordable. The Pomalaa Block HPAL Project will process ore provided by PT Vale Indonesia from its Pomalaa Block mine to produce MHP.

Indonesia 259
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State-owned Indonesia Battery Holding to help build integrated EV industry in Indonesia; role of nickel

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In Indonesia, state miners MIND ID (Mining Industry Indonesia) and Aneka Tambang (ANTAM); state utility Perusahan Listrik Negara (PLN); and state oil company Pertamina have agreed to form a new venture: Indonesia Battery Holding.

Indonesia 170
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BNEF: Net-zero transition potentially a $3.5T investment opportunity for Indonesia

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trillion investment opportunity for Indonesia, according to a new report published at the BNEF Summit Bali by research company BloombergNEF (BNEF) entitled Net-Zero Transition: Opportunities for Indonesia. By then, the combined share of renewables in electricity supply reaches 74%. trillion under the NZS.

Indonesia 195
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Nornickel presents market review of nickel and platinum group metals

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Russia-based Nornickel, the world’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper, presented its eleventh review of the nickel and platinum group metals (PGM) markets based on the fundamental analysis of world economic and industry data. Mt to 3.22 Mt (7% year-on-year growth).

Market 304
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Chiyoda lands $2.7B contract for new copper smelter in Indonesia

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billion engineering, procurement and construction (EPC) contract by PT Freeport Indonesia (PTFI)—a mineral mining company affiliate of US-based Freeport-McMoRan (FCX) and MIND ID Indonesia’s Mining Industry—for a copper smelter in Gresik, East Java, Indonesia.

Indonesia 418
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Tesla visits nickel plant in Indonesia for potential investment

Teslarati

Nickel Industries from down under has invited Tesla, Panasonic, Northvolt, and other automakers and battery suppliers to invest in its facilities in Indonesia. The Australian company plans to expand into the high-purity nickel industry in the electric vehicle (EV) industry. Nickel Industries aims to build a $2.3

Indonesia 115
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Cobalt Institute: cobalt market weakened since 2022 peak, but in longer term, demand will outpace supply

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The Cobalt Institute’s Cobalt Market Report, prepared by Benchmark Mineral Intelligence, finds that cobalt market conditions have weakened substantially since the price peak in 2022. This dynamic will likely remain through to 2024, the report says, as a plentiful and growing supply surplus maintains pressure on prices.

Supplies 259