U.S. carmaker Ford has joined PT Vale Indonesia and China's Zhejiang Huayou Cobalt's as their new partner in a $4.5 billion nickel processing plant in Indonesia, the companies said on Thursday.
over five years in areas including battery production and the sourcing of raw materials.
The proposed high-pressure acid leaching plant will be located in Pomalaa in Southeast Sulawesi, where Vale operates a nickel mine. Febriany Eddy, chief executive of Vale Indonesia, said the deal is unique in bringing the U.S. automaker into an upstream nickel business. The companies did not say how much Ford will invest in the plant, which is expected to produce 120,000 tonnes per year of mixed hydroxide precipitate, a material extracted from nickel ore for use in EV batteries.
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