Indonesian sovereign wealth fund, Danantara, has agreed to a $1.42 billion deal with Chinese company GEM Co. Ltd. The partnership aims to develop a plant dedicated to producing battery-grade nickel. The state-of-the-art high-pressure acid leach facility is projected to generate 66,000 tons of nickel annually.
Danantara and GEM to Develop $1.4 Billion Indonesia Nickel Plant
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