CATL plans to invest $5 billion in lithium battery plant in Indonesia

[TaiShang]

CATL, China's largest automotive lithium-ion battery maker, plans to invest $5 billion in a lithium battery plant in Indonesia, Septian Hario Seto, Indonesia's deputy minister at the coordinating ministry of maritime and investment affairs, told a virtual briefing on Tuesday.

He said the lithium battery plant will be operational by 2024 and that CATL has signed an agreement with PT Aneka Tambang, Indonesia's state-owned mining company, which requires CATL to ensure that 60 percent of its nickel is processed into batteries in Indonesian.

Indonesia's Investment Coordinating Board said in June that LG Chem was considering investing $9.8 billion in an electric car battery plant that would integrate a smelter.

Last week, the Indonesian government said Tesla will send a delegation to Indonesia next month to discuss potential investments in its electric vehicle supply chain.

CATL plans to invest $5 billion in lithium battery plant in Indonesia - CnTechPost

The plant will be operational by 2024 and that CATL has signed an agreement with PT Aneka Tambang, Indonesia's state-owned mining company.

cntechpost.com

@Viva_Viet , you have a competition.

 

[Indos]

Not only from mine in state owned mining company, PT Aneka Tambang, another Indonesia state owned company, PT Inalum, also has acquired 20 % of biggest nickel mining company in Indonesia, Vale Indonesia, with possibility to be majority share holder in the coming years as our law requires.

So Indonesian government still has capacity to supply more nickle to the battery company that make a cooperation with us.


State miner to acquire 20% stake in Vale Indonesia

MINING.COM Staff Writer | June 19, 2020 | 9:09 am Markets News Top Companies Asia Nickel

Brazilian mining giant Vale (NYSE:VALE) announced on Friday that its Canadian subsidiary Vale Canada Limited (VCL) has reached an agreement to sell a 20% stake in the nickel producer PT Vale Indonesia to state-controlled PT Indonesia Asahan (Inalum).

The sale is valued at $290 million, for the sale, and Sumitomo is also participating.

After the closing of the transaction, the Indonesian state-owned company will have acquired 20% of PT Vale shares, being 14.9% from VCL and 5.1% from Sumitomo.

Vale and Sumitomo will have a stake of 44.3% and 15% in PT Vale, respectively, totalling a 59.3% participation.

According to Indonesian mining rules, foreign-controlled miners are required to gradually start reducing ownership after five years of production. Within 10 years, foreign ownership should be cut to at least 49%.

“Indonesia plays a major strategic role within the global nickel industry.

This transaction represents an important development in PT Vale’s long presence in Indonesia and reinforces Vale’s commitment to keep investing in the region,” Vale said in a media release.

PT Vale recorded positive earnings of $29 million in Q1 2020, with production of 17,614 tonnes.
The transaction is expected to happen by the end of 2020.

State miner to acquire 20% stake in Vale Indonesia

Vale will receive $290 million for the sale, in which Sumitomo is also participating.

www.mining.com

@Viva_Viet

 

[striver44]

Noice

 

[Indos]

20 % stake is quite huge since another 20 % Vale Indonesia shares are traded in Jakarta Stock Exchange. This is why Vale Indonesia will have new Vice President coming from Indonesia state owned mining Holding company. And he is also a Minang ethnic like me

Adriansyah Chaniago (VP Vale Indonesia)

Direksi PT Vale Indonesia Tbk

Profil Direksi PT Vale Indonesia Tbk

www.vale.com

 

[xuxu1457]

when?why?
me

 

[Place Of Space]

View attachment 696694
when?why?
me

This rat is blocked everywhere.

There are 4 years before operatoin, a lot of incidents may happen, not promising project...

 

[TaiShang]

This rat is blocked everywhere.

There are 4 years before operatoin, a lot of incidents may happen, not promising project...

Agree. It may face hurdles. On the other hand, rejecting foreign investment on phony grounds would ultimately hurt national economy.

Global need for investment is much larger than existing investment capacity.

 

[Indos]

The investment is not just an investment, it is more like a cooperation with Indonesia state owned companies since there is clause that Indonesia state owned mining company must provide the nickle to the battery factory built in Indonesia.

Previously about 4 Indonesia state owned company has plan to make a battery holding company and they are seeking partners.

Here is the news

-------------------------------------------------------------------------------------------

Technology News
October 13, 20204:59 PM
Updated 2 months ago

Indonesia to create firm to build up electric vehicle battery industry
By Reuters Staff


JAKARTA (Reuters) - A group of Indonesian state-owned companies will form a venture to make batteries to power electric vehicles, the Mining Industry Indonesia (MIND ID) chief executive said on Tuesday.

Indonesia, the world’s biggest producer of nickel ore, a key component of EV batteries, wants to build an integrated EV industry that will eventually include building the vehicles.

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The new venture, called Indonesia Battery Holding, would be formed by state miners MIND ID and Aneka Tambang (ANTAM), state utility Perusahan Listrik Negara (PLN) and state oil company Pertamina, MIND ID Chief Executive Orias Petrus Moedak said.

“We are preparing a concrete cooperation plan, so that the nickel utilisation project can start immediately, to produce batteries,” he told a webinar.

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The company would help build an industry that aimed to cover everything from producing chemicals and minerals for batteries to making the units themselves, as well as recycling old batteries, Orias said.

The company would create a partnership with Chinese and Korean firms on two projects valued at $12 billion, Orias said, without giving further details.

Orias said state miner ANTAM would also work on related EV battery projects including high-pressure acid leaching (HPAL) and rotary kiln electric furnace (RKEF) smelter projects valued $2 billion to $3 billion. He did not give details.

Reporting by Bernadette Christina Munthe; Writing by Fathin Ungku; Editing by Edmund Blair

Indonesia to create firm to build up electric vehicle battery industry

A group of Indonesian state-owned companies will form a venture to make batteries to power electric vehicles, the Mining Industry Indonesia (MIND ID) chief executive said on Tuesday.

www.reuters.com

 

[Beast]

This rat is blocked everywhere.

There are 4 years before operatoin, a lot of incidents may happen, not promising project...

The rat is banned. I am surprised he didn't curse this investment since it's a Chinese Investment.

Since he is so high horse of Uighur slavery. He shall ask Indonesian government to ban this investment.