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.
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WASHINGTON (Reuters) - U.S. Republicans are expected to unveil a new infrastructure proposal as early as Tuesday as optimism grows about a possible bipartisan deal that would cover a fraction of President Joe Biden’s $2.3 trillion infrastructure plan.
FILE PHOTO: U.S. President Joe Biden gestures toward Senator Shelley Capito (R-WV) during an infrastructure meeting with Republican Senators at the White House in Washington, U.S., May 13, 2021. REUTERS/Kevin Lamarque/File Photo
Senator Shelley Moore Capito, who is leading the Republican infrastructure drive, told reporters on Monday that she expected Republicans to unveil a new counter-proposal to Biden’s sweeping plan sometime early this week. Her comments followed a day of discussions between Senate Republicans and White House staff, on the eve of a meeting with top administration officials slated for Tuesday afternoon.
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.