Huayou Cobalt to jointly build nickel sulfate project in Indonesia
2023-07-26 11:32:40 [Print]
Huayou Cobalt announced a plan to set up an Indonesian-based joint venture through its wholly-owned subsidiary HUAYAO to develop a nickel sulfate project with annual production capacity of 50,000t of nickel equivalent. The joint venture, Huaxiang Refining Indonesia, will build the project in Indonesia Weda Bay Industrial Park (IWIP), with total investment estimated at USD200 million.
Huayou Cobalt also plans to acquire 50.15% equity interest and corresponding shareholder loans in Chongjing Holding Limited through its 100% owned subsidiary Huayou International Mining for USD200 million, to indirectly get a 50.1% stake in Andalan Metal Industry (AMI), a subsidiary of Chongjing Holding Limited. AMI owns two RKEF ferronickel production lines with annual capacity of 150,000t (24,000t of nickel equivalent).
Huayou Cobalt also plans to acquire 50.15% equity interest and corresponding shareholder loans in Chongjing Holding Limited through its 100% owned subsidiary Huayou International Mining for USD200 million, to indirectly get a 50.1% stake in Andalan Metal Industry (AMI), a subsidiary of Chongjing Holding Limited. AMI owns two RKEF ferronickel production lines with annual capacity of 150,000t (24,000t of nickel equivalent).
Nickel Sulfate Ni 22%min; Co 0.05%max Delivered China
Unit:RMB/mt
China nickel sulfate producers' inventory statistics by province by month
Unit: mt
