According to the latest report, a subsidiary of Guangdong Bangpu, a holding subsidiary, signed a tripartite agreement with Indonesia PT AnekaTambang (ANTAM) and PT Industri Baterai Indonesia (IBI) to jointly build nickel mines.
Moreover, power battery industry chain projects include mining and smelting, battery materials, battery manufacturing, and battery recycling.
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According to the agreement, the three parties will invest in the construction of power battery industry chain projects in the FHT Industrial Park in East Hamahela County, North Maluku, Indonesia, and other related industrial parks in Indonesia.
CATL said ANTAM is an Indonesian-listed state-owned mining company. Indonesian Battery Company (IBI) is an Indonesian state-owned company. It is a newly formed investment company dedicated to battery production by Indonesia National Petroleum Corporation, National Electricity Corporation, National Mining Corporation, and ANTAM. It mainly invests in batteries and related industries in Indonesia and overseas.
Furthermore, CATL said that the project will further improve the company’s strategic layout in the battery industry, ensure the supply of upstream key resources and raw materials, reduce production costs, and promote the company’s battery recycling industry layout.
