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Sumitomo to invest $1.8bn in Indonesia for EV battery metal

Planned nickel smelter will produce 40,000 tons annually

A Sumitomo Metal nickel refinery in the Philippines. (Photo courtesy of Sumitomo Metal Mining)

TOKYO -- Sumitomo Metal Mining will spend over 200 billion yen ($1.77 billion) to set up a nickel smelter in Indonesia to meet strong demand for the metal used in electric car batteries.

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