Indonesia says nickel miner Vale to build another $2 bln HPAL plant

Sumitomo Metal Mining

18/03/2024 09:33

JAKARTA, March 18 (Reuters) - Nickel miner PT Vale
Indonesia  INCO.JK  is exploring a potential investment in a
high-pressure acid leaching plant in Sulawesi island, with an
estimated cost of 30 trillion rupiah ($1.91 billion), its
investment ministry said on Monday.
    The plant, named "SOA HPAL", will be the company's third
such project to turn nickel ore into mixed hydroxide precipitate
(MHP) - a material used to make electric vehicle batteries,
according to presentation material shown by Indonesia's
Investment Minister Bahlil Lahadalia.  
    A Vale Indonesia spokesperson declined to comment.  
    The plant could have an annual output capacity of 60,000
metric tons of nickel in MHP, the ministry said, adding Vale
Indonesia is completing its final stage of exploration and it
will partner with automakers. 
    Vale Indonesia already has two HPAL plants under
construction in Sulawesi Island, in Pomalaa and Sorowako. Both
projects are in partnership with Zhejiang Huayou Cobalt.
    U.S. carmaker Ford  F.N  is involved in the $4.5 billion
Pomalaa plant. 
    Last month, Indonesia's state mining company MIND ID agreed
to acquire a 14% stake in Vale Indonesia from Vale Canada and
Japan's Sumitomo Metal Mining  5713.T  to become a top
shareholder. 

($1 = 15,685.0000 rupiah)

 (Reporting by Stefanno Sulaiman, Editing by Louise Heavens)
 ((Stefanno.Sulaiman@thomsonreuters.com;))