"Ford in $4.5 bln deal for EV battery materials plant", 30 March 2023

U.S. carmaker Ford (F.N) has joined PT Vale Indonesia (INCO.JK) and China's Zhejiang Huayou Cobalt's as their new partner in a $4.5 billion nickel processing plant in Indonesia [...].

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The proposed high-pressure acid leaching (HPAL) plant will be located in Pomalaa in Southeast Sulawesi, where Vale operates a nickel mine.

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Febriany Eddy, chief executive of Vale Indonesia, said [...] said that Vale has a 30% stake in the project, with the remainder being controlled by Ford and Huayou.

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"Ford can help ensure that the nickel that we use in electric vehicle batteries is mined, produced within the same ESG standards as part of our business around the world," Christopher Smith, Ford's chief government affairs officer, said at the signing ceremony.

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