Huayu Cobalt's first nickel-cobalt project in Indonesia will enter commissioning phase at the end of this year and capex will be below planned levels, initially $1.2 billion to $1.3 billion. The project, located on Sulawesi Island, is one of the nickel-cobalt projects in Indonesia using the high-pressure acid leaching technology.
The company is in the final stages of construction and it will take about 12 months for the plant to be fully operational, the company's executive deputy director said.
The project, named huayue nickel-cobalt, is a joint venture of huayu, qingshan and luomu, with an annual capacity of 60,000 tons of nickel metal and 7,000 to 8,000 tons of cobalt.
In May, Huayu Co signed the Indonesian Huayu Nickel Co Project with the investment of Qingshan and Ewei Lithium Energy, with an annual capacity of 120,000 tons of nickel metal, twice the scale of Huayue Plant. It is located in Waidabei Bay, Indonesia, and is expected to be put into production in 2023.
