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Commodities

Vale Indonesia embarks on $8.6bn nickel projects with Chinese firms

Miner expresses hopes on partnership with Ford Motor for EV battery materials

Vale Indonesia is working on three nickel projects worth $8.6 billion. (Photo courtesy of PT Vale) 

JAKARTA -- The Indonesian unit of Brazilian mining giant Vale is embarking on three nickel processing projects worth a combined $8.6 billion with partners including Chinese battery materials producer Zhejiang Huayou Cobalt and potentially U.S. automaker Ford Motor.

Vale Indonesia on Tuesday signed a preliminary agreement for the latest of the three projects -- all on the island of Sulawesi -- with Huayou. It comprises a plan to develop a nickel smelter with high pressure acid leaching (HPAL) technology near Vale Indonesia's major operations in Sorowako, South Sulawesi province.

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