On April 14th, Guangdong Bangpu’s subsidiary Puqin Times and Indonesian companies PT AnekaTambang (ANTAM) and PT Industri Baterai Indonesia (IBI) signed a three-party agreement to jointly build a power battery industry chain project, including nickel mining and smelting, battery materials, battery manufacturing, and battery recycling.
According to the agreement, the three parties will invest in the construction of the power battery industry chain project in FHT Industrial Park in East Hamahela County, North Maluku Province, Indonesia, and other related industrial parks in Indonesia. The total investment amount will not exceed 5.968 billion US dollars.
ANTAM is a listed state-owned mining company in Indonesia. IBI is an Indonesian state-owned company, which was newly established by the Indonesian National Petroleum Company, the National Power Company, the National Mining Company, and ANTAM to invest in battery production and related industry chain projects in Indonesia and overseas.
Guangdong Bangpu is a subsidiary of Ningde Times Holding Company and has contributed greatly to Ningde Times’ global layout.
In April 2018, through its subsidiary, Canadian Times, Ningde Times invested 15 million Canadian dollars to participate in the North American Nickel Company, holding a 25.38% stake. In the same year, Ningde Times purchased 43.59% equity in North American Lithium Company held by Canadian Times. On September 4th, 2019, Ningde Times subscribed to 183 million ordinary shares of Pilbara Minerals Limited, an Australian lithium mining company, through its wholly-owned subsidiary Hong Kong Times, accounting for 8.5% of the total share capital. In April of this year, Ningde Times acquired a 25% stake in KFM Holdings Limited of Hong Kong for US$137.5 million through its subsidiary Bangpu, while KFM holds a 95% stake in the Kisanfu copper-cobalt mining project in the Democratic Republic of Congo.
In September 2018, Ningde Times and Guangdong Bangpu jointly established the Qingmeibang project in Indonesia, with a total investment of approximately 4.59 billion yuan, and built an annual production capacity of 50,000 tons of nickel metal and 4,000 tons of cobalt metal.In April 2021, Contemporary Amperex Technology (CATL) invested approximately RMB 900 million through its subsidiary, Bangpu Century, to acquire 25% equity in KFM Holdings, a wholly-owned subsidiary of Luomu Holdings, and jointly develop the Kisanfu copper-cobalt mine project located in the Democratic Republic of the Congo. This project not only contains more than 3.1 million tons of cobalt metal, but is also one of the largest undeveloped copper-cobalt mines in the world.
This project, in cooperation with the Indonesian government, will further improve CATL’s strategic layout in the battery industry, secure upstream key resources and raw material supply, reduce production costs, and promote the company’s battery recycling industry layout.
Source: Contemporary Amperex Technology (CATL)
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