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On August 25th, Huayou Cobalt and PT Vale Indonesia officially signed a "Definitive Cooperation Agreement" in Jakarta, Indonesia. This milestone collaboration aims to significantly contribute to the sustainable growth of Indonesia's emerging new energy lithium-ion battery industry. The agreement marks the inception of a fresh phase in the partnership between the two entities as they embark on jointly establishing a robust lithium-ion battery ecosystem within Indonesia. 

Febriany Eddy, the CEO of PT Vale Indonesia, highlighted the company's active response to both Indonesian and global demands for the development of an electric vehicle ecosystem. Their commitment extends to adopting sustainable mining practices across all projects, innovative advancements in battery technology adhering to sustainable standards, optimization of production efficiency, provision of premium-quality products, and alignment with the dynamic trends of the global market. Furthermore, the company's strategy involves a focus on increased employment of Indonesian personnel during project execution, coupled with a talent cultivation approach to benefit the local Indonesian community. Their objective is to hire up to 80% Indonesian staff during the production and operational phases in order to make contributions to local people. 

▲During the signing ceremony, Zhang Dahui, Vice President and General Manager of Huayou Indonesia Regional Service Center, represented Huayou Cobalt and officially signed the "Definitive Cooperation Agreement" alongside Febriany Eddy, CEO of PT Vale Indonesia. 

Chairman Chen Xuehua expressed his optimism for the collaborative endeavor, emphasizing a shared aspiration for sincere cooperation and mutual success between the two parties. The chairman underscored the concept of “build together, win the future together” as the foundation for establishing a collaborative model in the lithium-ion battery industry. This renewed and intensified partnership stands as the perfect amalgamation of Huayou Cobalt's proficiency in green smelting technology and Vale's resource strengths. Together, they are dedicated to the creation of a competitive manufacturing system for nickel raw materials in the new energy power battery sector. Huayou Cobalt is committed to low-carbon, environmentally-friendly, and sustainable resource development. The company actively integrates the ESG (Environmental, Social, Governance) development concept and consistently builds upon its ESG framework. The envisioned outcome of this project is to cultivate a world-leading, eco-friendly, and low-carbon high-quality initiative. This undertaking is set to significantly contribute to the advancement of the new energy industry, the Indonesian economy, society, and the global electric vehicle industry and its interconnected supply chain. 

As part of the project's timeline, operations are scheduled to commence in early 2027. The annual production target is set at 60,000 tons of crude mixed hydroxide precipitate (MHP) products, catering to the demand for electric vehicle battery production.