Reuters
Vale Indonesia, China’s Huayou sign agreement with Ford for nickel plant
Nickel miner Vale Indonesia, China’s Zhejiang Huayou Cobalt and U.S. car maker Ford Motor signed a non-binding memorandum of cooperation to build a plant in Indonesia to extract nickel chemicals, Vale said in a statement on Thursday. The companies plan to create a partnership to build a plant to produce 120,000 tonnes per annum of mixed hydroxide precipitate, material extracted from nickel ore that would be used in batteries for electric vehicles. Vale said the new partnership with Ford will be built on its framework agreement with Huayou, signed in April.