Company to send products to China soon Project start-up likely to pressure nickel price (Adds quotes, detail)
BEIJING/HANOI, May 19 (Reuters) - China’s Lygend Mining said on Wednesday its nickel and cobalt smelting project in Indonesia had made its first batch of mixed hydroxide precipitate (MHP), becoming the first high-pressure acid leach (HPAL) project in the country to reach production.
The $1.05-billion project on Obi island in the province of North Maluku is among several cobalt-nickel HPAL plants in nickel miner Indonesia that are under the spotlight as a source of supply for the burgeoning electric-vehicle battery sector.
“Our first batch of nickel and cobalt hydroxide products will be shipped to China soon, and gradually enter the global market,” said Lygend’s president Jiang Xinfang.
By Reuters Staff
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FILE PHOTO: The logo of car manufacturer Tesla is seen at a dealership in London, Britain, May 14, 2021. REUTERS/Matthew Childs
BERKELEY, Calif. (Reuters) -A firm led by high-profile investor Michael Burry on Monday revealed a short position against Tesla Inc worth more than half a billion.
Family office Scion Asset Management said in a regulatory filing that it has bearish put options of 800,100 shares of Tesla or $534 million by the end of the first quarter.
Tesla shares have fallen 13.7% since the end of the quarter as many hedge fund managers have raised concerns about money flooding into the popular stock.
A Tesla car driver killed in a recent accident in California praised the automaker's "full self-driving" features, and posted videos on his apparent Tiktok account, in which he appeared to drive with his hands off the wheel.
Indonesia will stop both liquefied petroleum gas (LPG) and fuel imports by 2030 and plans big changes to its energy infrastructure to meet that target, a top energy official said on Thursday.
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WASHINGTON (Reuters) - A group of U.S. senators are close to unveiling a $52-billion proposal Friday that would significantly boost U.S. semiconductor chip production and research over five years sources briefed on the matter said.
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Senators Mark Kelly, John Cornyn, Mark Warner and Tom Cotton have been negotiating a compromise measure to address the issue in the face of rising Chinese semiconductor production and shortages impacting automakers and other U.S. industries.
A spokesman for Cornyn said the senator has “not signed on to a semiconductor amendment.”
Sources said there remains at least one sticking point over whether to include a provision on labor rates.