Huayou Cobalt signs definitive cooperation agreement with Vale Indonesia on HPAL project
2022-11-14 18:00:03 [Print]
On November 13, Huayou Cobalt announced that it signed the Definitive Cooperation Agreement with Vale Indonesia on the cooperation of HPAL project. HPAL project plans to adopt Huayou Cobalt's wet process, technology and configuration to process limonite and low-grade humus ore from Pomalaa mine of Vale Indonesia, to produce crude MHP. The target design capacity of HPAL project is not to exceed 120,000 Ni metal tons of MHP.
At the same time, the company agreed that Huaqi (Hong Kong) Co., Ltd., a wholly-owned subsidiary of the company, signed the Share Subscription Agreement and Joint Venture Agreement with Vale Indonesia and KNI, and agreed that the company would subscribe for new shares of KNI through Huaqi with IDR764 billion (about RMB48.689 million). After the subscription, Huaqi will hold 80% shares of KNI, and Vale Indonesia will hold 20% shares of KNI.
At the same time, the company agreed that Huaqi (Hong Kong) Co., Ltd., a wholly-owned subsidiary of the company, signed the Share Subscription Agreement and Joint Venture Agreement with Vale Indonesia and KNI, and agreed that the company would subscribe for new shares of KNI through Huaqi with IDR764 billion (about RMB48.689 million). After the subscription, Huaqi will hold 80% shares of KNI, and Vale Indonesia will hold 20% shares of KNI.
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