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in Indonesian nickel diversifies from China as Ford joins $4.5 billion project","investment-in-indonesian-nickel-diversifies-from-china-as-ford-joins-4-5-billion-project","article/investment-in-indonesian-nickel-diversifies-from-china-as-ford-joins-4-5-billion-project",{"_uid":557,"date":558,"tags":559,"editor":563,"content":573,"excerpt":708,"featured":50,"reporter":709,"_editable":713,"component":714,"seo_title":553,"categories":715,"visibility":721,"author_company":49,"featured_image":722,"seo_description":708,"author_full_name":49,"author_job_title":49,"formattedDate":727,"formattedArticleDate":728},"0b3a5e98-3ef7-43e4-bc6c-e4cc46074eaf","2023-03-30 00:00",[560],{"slug":561,"name":562},"indonesia","Indonesia",[564],{"slug":565,"name":566,"content":567},"matthew-bird","Matthew Bird",{"job_title":568,"image":569,"bio":571,"linkedin":572},"Senior Editor - Supply Chains & Data Visualisation",{"filename":570},"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":574,"content":575},"doc",[576,583,588,593,598,603,608,613,618,623,628,633,638,645,650,665,670,683,688,693,698,703],{"type":577,"attrs":578,"content":579},"paragraph",{"textAlign":49},[580],{"text":581,"type":582},"Investment in Indonesia’s nickel sector is beginning to diversify away from China, as Western automakers and other non-Chinese players look to secure supplies of the battery metal.  ","text",{"type":577,"attrs":584,"content":585},{"textAlign":49},[586],{"text":587,"type":582},"Indonesian nickel production for the battery industry is set to grow by over 600% this decade, thanks to billions of dollars of Chinese investment in processing plants. ",{"type":577,"attrs":589,"content":590},{"textAlign":49},[591],{"text":592,"type":582},"But a number of non-Chinese companies have started to move into the country’s nickel sector, in a bid to secure supplies for Western electric vehicle markets. ",{"type":577,"attrs":594,"content":595},{"textAlign":49},[596],{"text":597,"type":582},"This week Ford said it will invest in a $4.5 billion nickel processing project in Indonesia being built by Brazil’s Vale and China’s Huayou Cobalt. It will own 17% of the project, according to Huayou. ",{"type":577,"attrs":599,"content":600},{"textAlign":49},[601],{"text":602,"type":582},"The amount of nickel coming from projects with some proportion of non-Chinese involvement is set to account for almost a third of total supply by 2030, according to Benchmark’s Nickel Forecast. Projects with no Chinese investment will account for less than 7% of supply. ",{"type":577,"attrs":604,"content":605},{"textAlign":49},[606],{"text":607,"type":582},"Indonesia is likely to be included as an eligible country in the US Inflation Reduction Act, which could spur even more Western investment, according to Greg Miller, an analyst at Benchmark.  ",{"type":577,"attrs":609,"content":610},{"textAlign":49},[611],{"text":612,"type":582},"“There is now growing confidence that Indonesian nickel will qualify for subsidies under the Inflation Reduction Act, if it is processed in the US or Free Trade Agreement (FTA) economy, which if proven correct will most likely spark a stream of ex-China investments in the region,” said Miller.",{"type":577,"attrs":614,"content":615},{"textAlign":49},[616],{"text":617,"type":582},"“We’ll see more western investment but it is not going to challenge the Chinese dominance in the region. The Chinese have invested so much and they have such a grip over the pipeline of new supply that their cost of production will be significantly lower than Western projects.”",{"type":577,"attrs":619,"content":620},{"textAlign":49},[621],{"text":622,"type":582},"This month South Korea’s Posco finalized an agreement with China’s Lygend Resources to invest in a high pressure acid leach (HPAL) facility in Indonesia, with the aim of producing 60,000 tonnes of Mixed Hydroxide Preciptate (MHP) by 2025, enough for 1.2 million electric vehicles. ",{"type":577,"attrs":624,"content":625},{"textAlign":49},[626],{"text":627,"type":582},"Mixed Hydroxide Precipitate (MHP) is an intermediate material that is used to make nickel sulphate, which is then mixed with other materials to make the battery cathode. ",{"type":577,"attrs":629,"content":630},{"textAlign":49},[631],{"text":632,"type":582},"BASF and Eramet have also said they are close to finalising a $2.6 billion investment on a joint venture plant in the region in the first half of 2023, which would produce 60,000 tonnes of nickel and 6,000 tonnes of cobalt a year beginning in 2026.",{"type":577,"attrs":634,"content":635},{"textAlign":49},[636],{"text":637,"type":582},"And earlier this year, Tsingshan’s Australian partner Nickel Industries also revealed plans to build a $2.3 billion HPAL facility in the Morowali Industrial Park.",{"type":639,"attrs":640,"content":642},"heading",{"level":641,"textAlign":49},4,[643],{"text":644,"type":582},"Controlling supply chains",{"type":577,"attrs":646,"content":647},{"textAlign":49},[648],{"text":649,"type":582},"Indonesia is set to dominate nickel production this decade, with nickel for the battery industry set to increase from around 200,000 tonnes last year to over 1.6 million tonnes by 2030, according to Benchmark.",{"type":577,"attrs":651,"content":652},{"textAlign":49},[653,655,663],{"text":654,"type":582},"That’s led to concerns in the global automotive industry that the supply could be prioritised by Chinese companies. In addition, there are a number of ",{"text":656,"type":582,"marks":657},"environmental and social concerns",[658],{"type":659,"attrs":660},"link",{"href":661,"uuid":49,"anchor":49,"target":49,"linktype":662},"https://source.benchmarkminerals.com/article/nickel-refiners-in-indonesia-lag-global-peers-on-water-pollution-monitoring","url",{"text":664,"type":582}," around nickel processing in Indonesia, including workers’ rights and the disposal of waste.  ",{"type":577,"attrs":666,"content":667},{"textAlign":49},[668],{"text":669,"type":582},"Ford said that investing in the Indonesian project with Vale and Huayou would allow it to ensure the nickel is mined and processed more sustainably. ",{"type":577,"attrs":671,"content":672},{"textAlign":49},[673,675,681],{"text":674,"type":582},"“This framework gives Ford direct control to source the nickel we need – in one of the industry’s lowest-cost ways – and allows us to ensure the nickel is mined in line with our company’s ",{"text":676,"type":582,"marks":677},"sustainability",[678],{"type":659,"attrs":679},{"href":680,"uuid":49,"anchor":49,"target":49,"linktype":662},"https://source.benchmarkminerals.com/video/watch/analyst-insights-where-does-sustainability-fit-in-the-nickel-supply-chain",{"text":682,"type":582}," targets, setting the right ESG standards as we scale,” said Lisa Drake, vice president at Ford. ",{"type":577,"attrs":684,"content":685},{"textAlign":49},[686],{"text":687,"type":582},"Ford said it would hold equity in the nickel processing project in Pomalaa, in Sulawesi, alongside Huayou and Vale, as part of a deal finalised in a ceremony attended by Indonesia President Joko Widodo. ",{"type":577,"attrs":689,"content":690},{"textAlign":49},[691],{"text":692,"type":582},"The project will process ore provided by Vale from its Pomalaa Block mine to produce MHP for use in batteries. It could produce up to 120,000 tonnes a year of MHP, it said. ",{"type":577,"attrs":694,"content":695},{"textAlign":49},[696],{"text":697,"type":582},"Construction is set to start this year, with production slated for 2026, it said. ",{"type":577,"attrs":699,"content":700},{"textAlign":49},[701],{"text":702,"type":582},"George Fang, senior vice president of Huayou Cobalt, said the MHP would be processed into nickel sulphate, cobalt sulphate and precursor materials. ",{"type":577,"attrs":704,"content":705},{"textAlign":49},[706],{"text":707,"type":582},"Separately, Ford also signed an agreement with Huayou for the supply of precursor cathode active material, it said. ","Investment in Indonesia’s nickel sector is beginning to diversify away from China, as Western automakers and other non-Chinese players look to secure supplies of the battery metal. Indonesian nickel production for the battery industry is set to grow by over 600% this decade, thanks to billions of dollars of Chinese investment in processing plants. But […]",[710],{"slug":565,"name":566,"content":711},{"job_title":568,"image":712,"bio":571,"linkedin":572},{"filename":570},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"0b3a5e98-3ef7-43e4-bc6c-e4cc46074eaf\", \"id\": \"\"}-->","article",[716,719],{"slug":717,"name":718},"batteries","Batteries",{"slug":720,"name":150},"nickel","private",{"id":49,"alt":723,"name":723,"focus":723,"title":723,"source":723,"filename":724,"copyright":723,"fieldtype":725,"meta_data":726,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/38812da87c/bm-pt-vale-indonesia.jpg","asset",{"alt":723,"title":723,"source":723,"copyright":723},"Mar 30, 2023","30th March 2023",[],[],1792773917104]