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plant","indonesia-moves-up-the-nickel-value-chain-with-huayou-nickel-sulphate-plant","article/indonesia-moves-up-the-nickel-value-chain-with-huayou-nickel-sulphate-plant",{"_uid":547,"date":548,"tags":549,"editor":553,"content":563,"excerpt":715,"featured":51,"reporter":716,"_editable":720,"component":721,"seo_title":543,"categories":722,"visibility":724,"author_company":49,"featured_image":725,"seo_description":715,"author_full_name":49,"author_job_title":49,"formattedDate":730,"formattedArticleDate":731},"3518fa03-ee13-4918-91a8-262be5cf093d","2023-07-28 00:00",[550],{"slug":551,"name":552},"indonesia","Indonesia",[554],{"slug":555,"name":556,"content":557},"matthew-bird","Matthew Bird",{"job_title":558,"image":559,"bio":561,"linkedin":562},"Senior Editor - Supply Chains & Data Visualisation",{"filename":560},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":564,"content":565},"doc",[566,583,588,593,598,603,608,621,633,640,645,650,655,660,665,670,675,680,685,690,695,700,705,710],{"type":567,"attrs":568,"content":569},"paragraph",{"textAlign":49},[570,573,581],{"text":571,"type":572},"China’s Huayou plans to invest $200 million to build its first Indonesian ","text",{"text":574,"type":572,"marks":575},"nickel",[576],{"type":577,"attrs":578},"link",{"href":579,"uuid":49,"anchor":49,"target":49,"linktype":580},"https://www.benchmarkminerals.com/price-assessments/nickel/portal/","url",{"text":582,"type":572}," sulphate (NiSO4) plant, boosting Indonesia’s position within the global lithium ion value chain.",{"type":567,"attrs":584,"content":585},{"textAlign":49},[586],{"text":587,"type":572},"At 50,000 tonnes per year of capacity in terms of nickel metal, it extends Huayou’s presence within the country’s mining and refining sectors.",{"type":567,"attrs":589,"content":590},{"textAlign":49},[591],{"text":592,"type":572},"Nickel sulphate is a refined form of nickel used to make precursor cathode active materials (PCAM) for EV battery cathodes. Although Indonesian nickel refinery capacity additions and expansions saw record growth in 2022, according to Benchmark data, most of this was for mixed hydroxide precipitate (MHP), an intermediate nickel product that needs to be further processed into nickel sulphate for use in batteries. ",{"type":567,"attrs":594,"content":595},{"textAlign":49},[596],{"text":597,"type":572},"More nickel sulphate capacity would not only allow Indonesia to generate more value from its mines than it has been able to as an MHP producer, it could also pave the way towards a complete mine-to-EV supply chain in the country.",{"type":567,"attrs":599,"content":600},{"textAlign":49},[601],{"text":602,"type":572},"This is especially as the Indonesian government has recently stepped up efforts to attract foreign investment for the country’s first downstream lithium ion plants.",{"type":567,"attrs":604,"content":605},{"textAlign":49},[606],{"text":607,"type":572},"“Indonesia has commitments for major investments into the broader EV supply chain already, but they are still looking for someone to commit to a mid or downstream project,” commented Benchmark analyst Harry Fisher.",{"type":567,"attrs":609,"content":610},{"textAlign":49},[611,613,619],{"text":612,"type":572},"In June PT Halmahera Lygend, a joint venture with China’s Ningbo Lygend, started operations at a nickel sulphate plant on ",{"text":614,"type":572,"marks":615},"Obi Island",[616],{"type":577,"attrs":617},{"href":618,"uuid":49,"anchor":49,"target":49,"linktype":580},"https://source.benchmarkminerals.com/article/opinion-overcoming-mining-waste-issues-will-be-key-to-indonesias-nickel-ambitions",{"text":620,"type":572},".",{"type":567,"attrs":622,"content":623},{"textAlign":49},[624,626,632],{"text":625,"type":572},"China accounted for 74% of nickel sulphate production in 2022, a figure set to decline to 65% by 2025 as Australian and Indonesian producers ramp up new capacity, according to Benchmark’s ",{"text":627,"type":572,"marks":628},"Nickel Forecast",[629],{"type":577,"attrs":630},{"href":631,"uuid":49,"anchor":49,"target":49,"linktype":580},"https://www.benchmarkminerals.com/forecasts/nickel/",{"text":620,"type":572},{"type":634,"attrs":635,"content":637},"heading",{"level":636,"textAlign":49},4,[638],{"text":639,"type":572},"Chinese nickel sulphate prices rebound",{"type":567,"attrs":641,"content":642},{"textAlign":49},[643],{"text":644,"type":572},"Prices for nickel sulphate in China rose 3.1% month-on-month in June to reach RMB 33,000 ($4,554) per tonne on average, as assessed by Benchmark, thanks to moderate improvements in spot demand. ",{"type":567,"attrs":646,"content":647},{"textAlign":49},[648],{"text":649,"type":572},"Buoyed by firmer indications from the downstream, MHP payables increased in June compared to May, according to Benchmark’s Nickel Price Assessment.",{"type":567,"attrs":651,"content":652},{"textAlign":49},[653],{"text":654,"type":572},"“There is some optimism amongst Indonesian players that the MHP market has bottomed out,” according to Benchmark’s assessment. ",{"type":634,"attrs":656,"content":657},{"level":636,"textAlign":49},[658],{"text":659,"type":572},"Chinese dominance in Indonesia",{"type":567,"attrs":661,"content":662},{"textAlign":49},[663],{"text":664,"type":572},"Mid- to downstream build-out in Indonesia will likely be as dependent on Chinese capital as its mining and refining sectors have been, with its government already courting Chinese automakers and the Chinese government for financial support.",{"type":567,"attrs":666,"content":667},{"textAlign":49},[668],{"text":669,"type":572},"On 25 July, the Indonesian government announced that it is finalising a set of incentives for EV manufacturers to set up in the country, with China’s BYD among several automakers to be involved in shaping the package. ",{"type":567,"attrs":671,"content":672},{"textAlign":49},[673],{"text":674,"type":572},"Indonesian president Joko Widodo also visited China this week to meet his Chinese counterpart President Xi Jinping in Chengdu. Xi followed up the meeting by announcing China would deepen its economic cooperation with Indonesia across economic sectors, including in electric vehicle manufacturing.",{"type":634,"attrs":676,"content":677},{"level":636,"textAlign":49},[678],{"text":679,"type":572},"Huayou is set to grow its Indonesia nickel output",{"type":567,"attrs":681,"content":682},{"textAlign":49},[683],{"text":684,"type":572},"Huayou currently operates one of the first HPAL projects in Indonesia – the PT Huayue project, a JV with Tsingshan in the Indonesia Morowali Industrial Park. ",{"type":567,"attrs":686,"content":687},{"textAlign":49},[688],{"text":689,"type":572},"The company is involved in a further five pipeline MHP projects with partners that include Volkswagen, Tsinghan, LG Energy Solution, Vale, and Ford. ",{"type":567,"attrs":691,"content":692},{"textAlign":49},[693],{"text":694,"type":572},"Huayou’s new subsidiary for the nickel sulphate project, named Huaxiang Refining Indonesia, will be owned by three companies: its existing subsidiary Huayao International Investment, which will hold 49% of the new company, Singapore-based Strive Investment, which will hold 49%, and Lindo investment, which will hold 2%. ",{"type":634,"attrs":696,"content":697},{"level":636,"textAlign":49},[698],{"text":699,"type":572},"Indonesia’s success",{"type":567,"attrs":701,"content":702},{"textAlign":49},[703],{"text":704,"type":572},"Huayou’s cobalt sulphate investment is the latest success for the Indonesian government in its approach towards encouraging high value battery processing industries in the country.",{"type":567,"attrs":706,"content":707},{"textAlign":49},[708],{"text":709,"type":572},"Indonesia’s nickel refining boom over the last three years owes much to the government’s 2020 ban on all nickel ore exports, which forced foreign companies to establish domestic processing capacity to exploit Indonesian reserves. ",{"type":567,"attrs":711,"content":712},{"textAlign":49},[713],{"text":714,"type":572},"This has transformed Indonesia’s position in the global lithium ion economy from ten years ago, when the country was solely a nickel ore exporter, to its status as a battery chemicals producer now potentially capable of supporting a domestic cell and EV industry. ","China’s Huayou plans to invest $200 million to build its first Indonesian nickel sulphate (NiSO4) plant, boosting Indonesia’s position within the global lithium ion value chain. At 50,000 tonnes per year of capacity in terms of nickel metal, it extends Huayou’s presence within the country’s mining and refining sectors. Nickel sulphate is a refined form […]",[717],{"slug":555,"name":556,"content":718},{"job_title":558,"image":719,"bio":561,"linkedin":562},{"filename":560},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"3518fa03-ee13-4918-91a8-262be5cf093d\", \"id\": \"\"}-->","article",[723],{"slug":574,"name":150},"private",{"id":49,"alt":726,"name":726,"focus":726,"title":726,"source":726,"filename":727,"copyright":726,"fieldtype":728,"meta_data":729,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/3ecaaf5ca1/bm-pt-huayue.jpg","asset",{"alt":726,"title":726,"source":726,"copyright":726},"Jul 28, 2023","28th July 2023",[],[],1784633815548]