Automobile Huayou & EVE Energy to enter partnership in setting up a USD 2.08 bln nickel smelter in Indonesia CKN 141
May 25, 2021 (China Knowledge) - China’s Zhejiang Huayou Cobalt (603799) said on Monday it will partner with companies including a unit of battery maker EVE Energy (300014) to set up a USD 2.08 bln nickel and cobalt smelting project in Indonesia.
In its filing with the Shanghai Stock Exchange, Huayou said the smelter will be located on Weda Bay on the island of Halmahera in North Maluku province. The project aims to produce around 120,000 tons of nickel and 15,000 tons of cobalt on a metal content basis.
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.
China s Huayou, Eve Energy Surge After Investing in USD2.1 Billion Nickel Plant in Indonesia Tang Shihua China s Huayou, Eve Energy Surge After Investing in USD2.1 Billion Nickel Plant in Indonesia
(Yicai Global) May 24 Shares of Huayou Cobalt and Eve Energy rose after the two Chinese firms agreed to join a group of investors to build a USD2.1 billion nickel processing plant in Indonesia to secure their supply of battery raw materials.
Huayou s stock price [SHA:603799] surged as much as 5 percent to CNY95.45 (USD14.80) intraday.
Shares of Eve Energy [SHE:300014] climbed as much as 3.2 percent to CNY104 (USD16.20).
The pair and three other investors, including Yongrui Holdings, will form a joint venture to process laterite nickel ores on the island of Halmahera, the two said in separate statements today.