Photo shows the signing ceremony of the definitive cooperation agreement between Zhejiang Huayou Cobalt Co. Ltd. and PT Vale Indonesia Tbk. on Nov. 13, 2022. [Photo from Huayou Cobalt]
BEIJING, Nov. 15 (Xinhua) -- China's Zhejiang Huayou Cobalt Co. Ltd. (Huayou Cobalt) and PT Vale Indonesia Tbk. (PT Vale Indonesia) signed a definitive cooperation agreement on the Pomalaa high pressure acid leach (HPAL) project on Sunday during the Business 20 (B20) summit, which was hosted by Indonesia this year.
According to the agreement, Huayou Cobalt will process the nickel ore from the Pomalaa Mine. It is estimated that the Pomalaa HPAL project can produce up to 120,000 tonnes of nickel products annually, which will render crucial support to the battery ecosystem of electric vehicles.
Febriany Eddy, Chief Executive Officer (CEO) of PT Vale Indonesia, said that the Pomalaa HPAL project underpins the company's efforts to promote the UN 2030 Agenda for Sustainable Development, which will power the socio-economic development of the region and the country in the future.
Chen Xuehua, Chairman of Huayou Cobalt, hailed this agreement and expressed his hope for a deeper cooperation between the company and its Indonesian partner in the future. The cooperation agreement has given full play to the advantages of both sides, said Chen, adding that Huayou Cobalt will adopt advanced practice of environment, society and governance (ESG) to ensure the smooth process of cooperation and push forward green growth in the region.
Earlier this year, the two sides signed a memorandum of understanding (MoU) with Ford Motor Company on the same project to provide battery material products to the automaker.
(Edited by Li Shimeng with Xinhua Silk Road, lishimeng@xinhua.org)
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