Nickel miner PT Vale Indonesia has begun construction of a ferronikel foundry on the island of Sulawesi. The investment amounted to approximately 2.5 billion US dollars.
In addition to Vale, a unit of its partners China's Shandong Xinhai Technology Co. Ltd. and China Baowu Steel Group Corp. Ltd. also participated in the project.
Construction is expected to be completed in 2.5 years. Another expectation is that it will produce 73,000 to 80,000 tons of ferronics each year.
In addition, Vale and its partners have developed a factory project in another area of Pomalaa, the island of Sulawesi. The plant is expected to produce 120,000 tons of mixed hydroxide precipitate per year, which can be applied to batteries for electric vehicles.
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