Huayou Cobalt's $5 Billion Deep Dive into Indonesia's Nickel Mining Industry

On October 18, 2024, the factory feeding ceremony of Huayou Cobalt's battery ternary precursor project was successfully held in Widabe Industrial Park, Indonesia.Huayou Cobalt has invested nearly 5 billion U.S. dollars in Indonesia since 2018, so why did Huayou Cobalt choose to look favorably on Indonesia and plow into Indonesia's new energy battery materials industry, Wang pal gives you a detailed account:

First, Huayou Cobalt was founded in 2002 by Mr. Chen Xuehua, a Zhejiang businessman, headquartered in Tongxiang, Zhejiang Province, one of the top 500 Chinese enterprises, is a high-tech enterprise engaged in the research, development and manufacturing of new energy lithium materials and cobalt new materials. Because of early optimism about the prospects of cobalt metal, as early as 2003, chose to go to sea to Africa's Congo (DRC) to engage in cobalt ore acquisition and processing, in 2015, Huayou Cobalt successfully listed on the main board of the Shanghai Stock Exchange, at the end of 2021, Huayou Cobalt's market capitalization soared to hundreds of billions of dollars, Chen Xuehua with a price of 18.5 billion yuan, ranked No. 380 of the Hurun list of the 100 richest people of 2021, Tongxiang City, the richest person in the city. The throne.Huayou became the largest supplier of cobalt products in China, and Mr. Chen Xuehua was even called the king of the cobalt industry.2024 China's Top 500 Enterprises Huayou Cobalt ranked No. 363 with 2023 revenue of 66.3 billion.

Secondly, with the continuous development of the global new energy battery materials and electric vehicle industry, in 2018, Huayou Cobalt forward-lookingly opened the layout of nickel resources in Indonesia, and carried out nickel resource development business based on the Morowali Industrial Park and Weibeda Industrial Park in the Castle Peak System. The Huayue wet process project, Huake high ice nickel project and Huafei wet process project, which were invested and constructed in 2018, 2020 and 2021 respectively, are the leading nickel resource layout enterprises among the battery material enterprises in the industry at present. By the end of 2023, Huayou Cobalt has invested in a total of 15 projects in Asian countries along the "Belt and Road", mainly in Indonesia, with a total investment of nearly US$5 billion.

Third, on April 21, 2024, the foundation stone of the Huaneng ternary precursor project in Indonesia invested by Huayou Cobalt was laid in the Widabe Industrial Park in Maluku Province, Indonesia, with a project area of approximately 65,000 square meters.As of October 18th, it took only 164 days to complete the main project. This project is Huayou's first overseas precursor project, and Huayou Cobalt has already established in-depth cooperation with the head enterprises of new energy batteries and automobiles, such as Tesla, Ningde Times, BYD, and LG Chem.

Due to its outstanding contribution in Indonesia's nickel and new energy industries, Chen Xuehua, the founder of Huayou Cobalt, received several meetings with then President Joko, and in October 2023, the Third "Belt and Road" International Cooperation Summit Forum was held in Beijing, and Huayou Cobalt was selected as one of the "Belt and Road" construction cases. One Belt and One Road" construction case.