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China's Huayou sees Indonesia nickel, cobalt project start up in 2 yrs

Published 11/05/2019, 02:56 PM
Updated 11/05/2019, 03:00 PM
China's Huayou sees Indonesia nickel, cobalt project start up in 2 yrs
002340
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603799
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YICHANG, China, Nov 5 (Reuters) - ** Zhejiang Huayou
603799.SS , China's top cobalt maker, expects its nickel and
cobalt processing plant in Indonesia to start production in two
years, President Chen Hongliang said on Tuesday.
** The plant in the Morowali Industrial Park will produce
nickel sulphate and cobalt sulphate, which are used in electric
vehicle batteries. It plans to produce at least 60,000 tonnes of
nickel content a year.
** Chen made the comments on the sidelines of the China
International Nickel and Cobalt Industry Forum in Yichang, after
an executive at GEM Co 002340.Sz said a similar project in the
same park would start trial production in August 2020.
** Both projects feature Chinese nickel and stainless steel
giant Tsingshan Holding Group.
** Chen said Huayou wanted to acquire more assets in the
Democratic Republic of Congo, the world's top cobalt-producing
nation, but declined to elaborate.

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