Huayou Cobalt to invest in Indonesian MHP project

Huaqi (Singapore) Pte.Asian Metal Copyright, a wholly-owned subsidiary of Huayou Cobalt, has received a feasibility study report for Pomalaa mine, suggesting that a high-pressure acid leaching HPAL project is feasible at the mine.Asian Metal Copyright Ltd.Asian Metal Copyright Huayou Cobalt planned to sign, through Huaqi, a revised joint investment agreement with Vale Indonesia, Ford Motor Company and Kolaka Nickel Indonesia, and a revised cooperation agreement with Vale Indonesia and Kolaka Nickel Indonesia to jointly develop the above-mentioned MHP project, with a total investment of approximately USD3.Asian Metal Copyright, a wholly-owned subsidiary of Huayou Cobalt, has received a feasibility study report for Pomalaa mine, suggesting that a high-pressure acid leaching (HPAL) project is feasible at the mine.Asian Metal Copyright Huayou Cobalt also plans to sign an ore supply agreement through Kolaka Nickel Indonesia with Vale Indonesia, whereby Vale Indonesia will supply limonite to Kolaka Nickel Indonesia, and Kolaka Nickel Indonesia will buy limonite from Vale Indonesia's Pomalaa mine, in an exclusive manner, for the HPAL project.Asian Metal Copyright Based on the report, Huaqi confirmed that the project will have an annual production capacity of 120,000t of nickel in the form of mixed hydroxide precipitate (MHP).

Huayou Cobalt planned to sign, through Huaqi, a revised joint investment agreement with Vale Indonesia, Ford Motor Company and Kolaka Nickel Indonesia, and a revised cooperation agreement with Vale Indonesia and Kolaka Nickel Indonesia to jointly develop the above-mentioned MHP project, with a total investment of approximately USD3.84 billion.

Huayou Cobalt also plans to sign an ore supply agreement through Kolaka Nickel Indonesia with Vale Indonesia, whereby Vale Indonesia will supply limonite to Kolaka Nickel Indonesia, and Kolaka Nickel Indonesia will buy limonite from Vale Indonesia's Pomalaa mine, in an exclusive manner, for the HPAL project. In addition, Huayou Cobalt plans to enter into an exclusive sale agreement through Huaqi with Vale Indonesia, Ford Motor and Kolaka Nickel Indonesia.

.Asian Metal Copyright Huayou Cobalt planned to sign, through Huaqi, a revised joint investment agreement with Vale Indonesia, Ford Motor Company and Kolaka Nickel Indonesia, and a revised cooperation agreement with Vale Indonesia and Kolaka Nickel Indonesia to jointly develop the above-mentioned MHP project, with a total investment of approximately USD3Asian Metal Copyright