Ford announced on March 30 local time that it had reached a final agreement with Vale Indonesia and Huayou Cobalt. All three companies will make equity investments in the high-pressure acid leaching (HPAL) project in the Pomalaa mining area.
The total project investment (including high-pressure acid leaching smelter and mine) is expected to reach 67.5 trillion rupiah (about $4.5 billion).
The project will use Huayou Cobalt's high-pressure acid leaching technology and will produce up to 120,000 mt of nickel products per year.
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