South Korean steelmaker POSCO announced its plan to build a nickel smelting plant in the Weda Bay Industrial Park, Halmahera, Indonesia. The annual production capacity of nickel matte will be 52,000 tons, sufficient to meet the battery materials demand for one million electric vehicles.
The plant, with an investment of 590 billion won (US$441 million), was scheduled to start construction this year and commercial production will begin in 2025.
Nickel is a key material for electric vehicle batteries. With the rapid growth of the electric vehicle market, the demand for nickel is also growing rapidly.
Source: YIEH
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