25 May 2021 (Last Updated May 25th, 2021 10:04)
China’s Zhejiang Huayou Cobalt intends to team up with EVE Energy and other firms for a $2.08bn Indonesian nickel project.
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China’s Zhejiang Huayou Cobalt is reportedly planning to form a joint venture (JV) with EVE Energy and others for a $2.08bn nickel and cobalt project in Indonesia.
The Chinese company will own a 20% stake in the new venture, which would be called PT Huayu Nickel Cobalt. EVE will own a 17% stake, reported Reuters.
The other JV partners include Glaucous International with a 30% interest and Lindo Investment with a 2% holding.
The remaining 31% stake will be held by Yongrui Holdings, which is a wholly owned unit of Yongqing Technology, a subsidiary of Indonesian nickel producer Tsinghan.