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Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":708,"relatedVideos":709},112472802962942,"639e2e8b-8012-4444-b537-41d11402fb96","Tesla supplier Sumitomo to exit Indonesia as Huayou targets 500% nickel increase ","tesla-supplier-sumitomo-to-exit-indonesia-as-huayou-targets-500-nickel-increase","article/tesla-supplier-sumitomo-to-exit-indonesia-as-huayou-targets-500-nickel-increase",{"_uid":547,"date":548,"tags":549,"editor":562,"content":572,"excerpt":687,"featured":51,"reporter":688,"_editable":692,"component":693,"seo_title":543,"categories":694,"visibility":700,"author_company":49,"featured_image":701,"seo_description":687,"author_full_name":49,"author_job_title":49,"formattedDate":706,"formattedArticleDate":707},"1822125d-98a8-43f4-8949-9300b713a22a","2022-04-26 00:00",[550,553,556,559],{"slug":551,"name":552},"huayou-cobalt","Huayou Cobalt",{"slug":554,"name":555},"indonesia","Indonesia",{"slug":557,"name":558},"sumitomo","Sumitomo",{"slug":560,"name":561},"tesla","Tesla",[563],{"slug":564,"name":565,"content":566},"matthew-bird","Matthew Bird",{"job_title":567,"image":568,"bio":570,"linkedin":571},"Senior Editor - Supply Chains & Data Visualisation",{"filename":569},"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":573,"content":574},"doc",[575,582,587,592,607,612,625,630,635,640,647,652,657,662,667,672,677,682],{"type":576,"attrs":577,"content":578},"paragraph",{"textAlign":49},[579],{"text":580,"type":581},"China’s Huayou Cobalt said its nickel production will increase by as much as 500% this year as its processing project in Indonesia starts production, just as Tesla supplier Sumitomo Metal Mining (SMM) said it would exit a joint venture in the country.","text",{"type":576,"attrs":583,"content":584},{"textAlign":49},[585],{"text":586,"type":581},"Huayou’s chairman Chen Xuehua said the start of its PT Huayue Nickel Cobalt processing plant in Sulawesi this year will help increase the company’s nickel production to between 80,000 to 90,000 tonnes.",{"type":576,"attrs":588,"content":589},{"textAlign":49},[590],{"text":591,"type":581},"Indonesia is set to account for the majority of the supply growth in nickel for batteries over the next few years, due to large investments by Chinese companies such as Huayou in processing plants.",{"type":576,"attrs":593,"content":594},{"textAlign":49},[595,597,605],{"text":596,"type":581},"That will make automakers increasingly reliant on the country and Chinese companies for the nickel they need to make electric vehicles. In March Volkswagen ",{"text":598,"type":581,"marks":599},"agreed",[600],{"type":601,"attrs":602},"link",{"href":603,"uuid":49,"anchor":49,"target":49,"linktype":604},"https://source.benchmarkminerals.com/article/volkswagen-set-to-enter-high-nickel-cathode-production-as-it-agrees-nickel-cobalt-supply-deal-with-huayou-and-tsingshan","url",{"text":606,"type":581}," to invest in nickel projects and cathode materials production with Huayou.",{"type":576,"attrs":608,"content":609},{"textAlign":49},[610],{"text":611,"type":581},"This month South Korea’s LG Energy Solution also said it would join a consortium including Huayou and steelmaker Posco to invest $9 billion in nickel mining and processing in Indonesia.",{"type":576,"attrs":613,"content":614},{"textAlign":49},[615,617,623],{"text":616,"type":581},"The nickel market is likely to enter a ",{"text":618,"type":581,"marks":619},"surplus",[620],{"type":601,"attrs":621},{"href":622,"uuid":49,"anchor":49,"target":49,"linktype":604},"https://source.benchmarkminerals.com/article/indonesia-set-for-five-fold-increase-in-battery-nickel-supply",{"text":624,"type":581}," in the second half of this year, according to Benchmark’s Nickel Price Forecast, due to the new supply from Indonesian projects.",{"type":576,"attrs":626,"content":627},{"textAlign":49},[628],{"text":629,"type":581},"In addition to Huayou’s project in Sulawesi, stainless steel giant Tsingshan has also begun shipping nickel matte, an intermediate form of the metal, from Indonesia to China for use in batteries this year.",{"type":576,"attrs":631,"content":632},{"textAlign":49},[633],{"text":634,"type":581},"Huayou said its nickel production – from Indonesia as well as from its own inventories – would increase to between 80,000 to 90,000 tonnes this year, from between 13,000 to 15,000 tonnes in 2021.",{"type":576,"attrs":636,"content":637},{"textAlign":49},[638],{"text":639,"type":581},"The company also has two other nickel processing projects it is developing in Indonesia.",{"type":641,"attrs":642,"content":644},"heading",{"level":643,"textAlign":49},4,[645],{"text":646,"type":581},"Bowing out",{"type":576,"attrs":648,"content":649},{"textAlign":49},[650],{"text":651,"type":581},"In contrast, Tokyo-based SMM, which supplies Tesla battery supplier Panasonic with materials, said on Monday it would discontinue the definitive feasibility study for the Pomalaa nickel processing project in Sulawesi, which it was developing along with Brazil’s Vale.",{"type":576,"attrs":653,"content":654},{"textAlign":49},[655],{"text":656,"type":581},"The project, which was due to begin production in 2026, was key to Sumitomo’s efforts to source nickel to expand its cathode production and could now leave it open to Chinese investment.",{"type":576,"attrs":658,"content":659},{"textAlign":49},[660],{"text":661,"type":581},"SMM said that its partner PT Vale Indonesia (PTVI) had “begun to seek an alternative to promoting the Pomalla project with SMM,” due “in part” to delays caused by Covid-19.",{"type":576,"attrs":663,"content":664},{"textAlign":49},[665],{"text":666,"type":581},"“SMM has been unable to continue negotiations with PTVI,” it said. “Since it is difficult to maintain its internal and external project study team with no prospect for future progress, SMM has concluded that it has no choice but to discontinue the study,” it added.",{"type":576,"attrs":668,"content":669},{"textAlign":49},[670],{"text":671,"type":581},"A spokesman for Vale said that the company remains committed to Pomalaa and will “provide an update in due course.”",{"type":576,"attrs":673,"content":674},{"textAlign":49},[675],{"text":676,"type":581},"The Pomalaa high-pressure acid leaching project was set to have the capacity to produce 40,000 tonnes of nickel per year starting in 2026, helping SMM to reach its target of producing 150,000 tonnes of nickel annually.",{"type":576,"attrs":678,"content":679},{"textAlign":49},[680],{"text":681,"type":581},"“The Pomalaa project was the centrepiece of SMM’s strategy to secure nickel resources to achieve its long-term vision of its 150,000 ton annual nickel production rate,” the company said.",{"type":576,"attrs":683,"content":684},{"textAlign":49},[685],{"text":686,"type":581},"“While we regret this outcome, we will continue our efforts to secure nickel resources in order to strengthen the value chain of SMM’s three businesses … and ensure a stable supply of SMM’s nickel products,” the company said.","China’s Huayou Cobalt said its nickel production will increase by as much as 500% this year as its processing project in Indonesia starts production, just as Tesla supplier Sumitomo Metal Mining (SMM) said it would exit a joint venture in the country. Huayou’s chairman Chen Xuehua said the start of its PT Huayue Nickel Cobalt […]",[689],{"slug":564,"name":565,"content":690},{"job_title":567,"image":691,"bio":570,"linkedin":571},{"filename":569},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"1822125d-98a8-43f4-8949-9300b713a22a\", \"id\": \"\"}-->","article",[695,698],{"slug":696,"name":697},"critical-minerals","Critical Minerals",{"slug":699,"name":150},"nickel","private",{"id":49,"alt":702,"name":702,"focus":702,"title":702,"source":702,"filename":703,"copyright":702,"fieldtype":704,"meta_data":705,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/91272987cb/bm-morowali-1.jpg","asset",{"alt":702,"title":702,"source":702,"copyright":702},"Apr 26, 2022","26th April 2022",[],[],1781615420539]