GEM(SZ:002340) Zheng Quan Shi Bao Wang·2024-11-10 18:43Core Viewpoint - The company has signed a preliminary cooperation agreement with PT Vale Indonesia Tbk to develop a nickel resource high-pressure acid leaching (HPAL) green smelting plant in Indonesia, aiming to meet the growing global demand for green nickel in the renewable energy sector [1][4]. Project Overview - Nickel is identified as a key mineral resource for the global renewable energy market, with significant development prospects [1]. - The HPAL plant will process nickel ore from PT Vale Indonesia's mining site into mixed hydroxide precipitate (MHP) containing nickel and cobalt, with a target annual production capacity of 66,000 tons of nickel [3][5]. - The project aims to establish a world-class green nickel resource park in Indonesia, focusing on local technology and talent [1][4]. Cooperation Partner Introduction - PT Vale Indonesia Tbk was established on July 25, 1968, and is primarily engaged in nickel mining and processing activities [2]. - The company has a diverse ownership structure, with significant stakes held by PT Mineral Industri Indonesia, Vale Canada Ltd, Sumitomo Metal Mining, and public shareholders [3]. Agreement Details - The initial equity structure of the project company will allocate 70% to the company and its partners, while PT Vale Indonesia will hold 30% [5]. - The capital expenditure for the HPAL plant and associated facilities is capped at $1.42 billion [5]. - The construction is expected to be completed within 16 to 24 months after obtaining necessary permits [5]. Environmental and Policy Considerations - The project aims for zero carbon emissions and will explore waste-to-energy solutions [7]. - Policies will be established in alignment with PT Vale Indonesia's compliance standards, covering areas such as anti-corruption and risk management [6]. Impact on the Company - The cooperation is expected to enhance the company's competitive position in the global renewable energy materials market and strengthen its core competencies [1][4]. - The agreement will not significantly impact the company's financial status or operational results for the current year [1][4].