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Vale and GEM sign $1.4bn HPAL deal in boost for new Indonesian president","pt-vale-and-gem-sign-1-4bn-hpal-deal-in-boost-for-new-indonesian-president","article/pt-vale-and-gem-sign-1-4bn-hpal-deal-in-boost-for-new-indonesian-president",{"_uid":557,"date":558,"tags":559,"editor":572,"content":582,"excerpt":673,"featured":51,"reporter":674,"_editable":678,"component":679,"seo_title":553,"categories":680,"visibility":691,"author_company":49,"featured_image":692,"seo_description":673,"author_full_name":49,"author_job_title":49,"formattedDate":696,"formattedArticleDate":697},"532e66a0-4c83-4eee-9d17-5dbef525200c","2024-11-13 00:00",[560,563,566,569],{"slug":561,"name":562},"china","China",{"slug":564,"name":565},"indonesia","Indonesia",{"slug":567,"name":568},"inflation-reduction-act","Inflation Reduction Act",{"slug":570,"name":571},"usa","USA",[573],{"slug":574,"name":575,"content":576},"didi-bostock","Didi Bostock",{"job_title":577,"image":578,"bio":580,"linkedin":581},"Editor - Energy Transition & Economics",{"filename":579},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":583,"content":584},"doc",[585,602,607,612,617,624,629,638,643,648,653,658,663,668],{"type":586,"attrs":587,"content":588},"paragraph",{"textAlign":49},[589,592,600],{"text":590,"type":591},"Indonesia’s recently inagurated president Prabowo Subianto witnessed the signing of a $1.4 billion high pressure acid leach (HPAL) agreement between PT Vale Indonesia and China’s GEM in Beijing last week, an early success for the new president’s ambition to ","text",{"text":593,"type":591,"marks":594},"continue the ‘downstreaming’ policy that defined predecessor Joko Widodo’s tenure in office",[595],{"type":596,"attrs":597},"link",{"href":598,"uuid":49,"anchor":49,"target":49,"linktype":599},"https://www.benchmarkminerals.com/","url",{"text":601,"type":591},".",{"type":586,"attrs":603,"content":604},{"textAlign":49},[605],{"text":606,"type":591},"Under the terms of the strategic collaboration, PT Vale and GEM will construct a 60,000 tonne nickel HPAL facility in Central Sulawesi. The two companies are also set to examine the development of battery precursor and anode capacity at the site. ",{"type":586,"attrs":608,"content":609},{"textAlign":49},[610],{"text":611,"type":591},"The deal is part of a broader $10 billion agreement to strengthen economic ties between Indonesia and China, covering a range of sectors including electric vehicles and lithium ion batteries.",{"type":586,"attrs":613,"content":614},{"textAlign":49},[615],{"text":616,"type":591},"The new president is embarking on a tour of key global partners to drum up foreign investment to advance Indonesia’s green economy ambitions that will underpin the new administation’s domestic economic agenda. The state visit to China is set to be followed by a trip to Washington this week, cultivating ties to cement Indonesia’s position as a key global energy transition partner and non-aligned position in the Asia-Pacific region.",{"type":618,"attrs":619,"content":621},"heading",{"level":620,"textAlign":49},4,[622],{"text":623,"type":591},"Eyeing the IRA?",{"type":586,"attrs":625,"content":626},{"textAlign":49},[627],{"text":628,"type":591},"To advance its downstreaming goals and reduce over-reliance on a single trading partner, Indonesian officials have sought to attract diversified investment into the country’s nickel sector and re-structure the ownership of existing plants, to facilitate qualification for tax credits under the US Inflation Reduction Act (IRA).",{"type":586,"attrs":630,"content":631},{"textAlign":49},[632],{"type":633,"attrs":634},"image",{"id":49,"alt":635,"src":636,"title":49,"source":49,"copyright":49,"meta_data":637},"","https://a.storyblok.com/f/287943243085208/0595104c68/bm-image-73.png",{},{"type":586,"attrs":639,"content":640},{"textAlign":49},[641],{"text":642,"type":591},"China’s GEM will control up to a 25% stake in the project – a nod towards  US IRA tax credit qualifcation. PT Vale will hold a 30% share, with the remaining partner (45%) yet to be announced.",{"type":618,"attrs":644,"content":645},{"level":620,"textAlign":49},[646],{"text":647,"type":591},"Net-zero commitment",{"type":586,"attrs":649,"content":650},{"textAlign":49},[651],{"text":652,"type":591},"A cornerstone of the new project is a commitment to net zero status. This focus on sustainability remains important for Indonesia’s continued role as a major player in the global energy transition, as well as attracting investment from ex-China sources. ",{"type":586,"attrs":654,"content":655},{"textAlign":49},[656],{"text":657,"type":591},"The project also plans to establish a research centre focused on advancing HPAL technology, to develop the skills of the local workforce through practical education. ",{"type":586,"attrs":659,"content":660},{"textAlign":49},[661],{"text":662,"type":591},"Indonesia has faced persistent scrutiny regarding the poor environment record of its nickel sector. Chinese companies operating in the sector have been accused of labour violations and human rights abuses. ",{"type":586,"attrs":664,"content":665},{"textAlign":49},[666],{"text":667,"type":591},"Although the plant’s commitment to net-zero practice is a positive step, Benchmark’s Global Nickel LCA’s demonstrates that HPAL plants have a lower carbon intensity than other processing routes, particularly in Indonesia.",{"type":586,"attrs":669,"content":670},{"textAlign":49},[671],{"text":672,"type":591},"Rather, the technology is associated with a host of other environmental challenges, including water consumption, deforestation, and tailings management. ","Indonesia’s recently inagurated president Prabowo Subianto witnessed the signing of a $1.4 billion high pressure acid leach (HPAL) agreement between PT Vale Indonesia and China’s GEM in Beijing last week, an early success for the new president’s ambition to continue the ‘downstreaming’ policy that defined predecessor Joko Widodo’s tenure in office. Under the terms of […]",[675],{"slug":574,"name":575,"content":676},{"job_title":577,"image":677,"bio":580,"linkedin":581},{"filename":579},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"532e66a0-4c83-4eee-9d17-5dbef525200c\", \"id\": \"\"}-->","article",[681,683,686,689],{"slug":682,"name":115},"cobalt",{"slug":684,"name":685},"critical-minerals","Critical Minerals",{"slug":687,"name":688},"geopolitics","Geopolitics",{"slug":690,"name":150},"nickel","private",{"id":49,"alt":635,"name":635,"focus":635,"title":635,"source":635,"filename":693,"copyright":635,"fieldtype":694,"meta_data":695,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/9dfd5ce627/bm-indonesia-china.jpg","asset",{"alt":635,"title":635,"source":635,"copyright":635},"Nov 13, 2024","13th November 2024",[],[],1792688569635]