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Antam to sign joint venture deal on EV battery plant in December
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A worker is pictured at the Pomalaa nickel smelter in Kolaka, Southeast Sulawesi, operated by state-owned metal mining firm PT Aneka Tambang (Antam). (Antam/Antam)
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tate-owned nickel and gold mining firm PT Aneka Tambang (Antam) is expected to sign a joint venture agreement with China’s Contemporary Amperex Technology Co. (CATL) to produce raw materials for electric vehicle (EV) batteries in December.
The move is part of a larger plan to build an end-to-end domestic supply chain for EV batteries in Indonesia, an effort spearheaded by state-owned PT Indonesia Battery Holding (IBC).
The EV battery holding company is also in talks with CATL and South Korea’s LG Energy Solutions, the world’s top-two EV battery makers by market share, to establish other joint ventures to develop the upstream-to-downstream EV battery industry.
Antam business development director I Dewa Bagus Wirantaya said the company and CATL planned to sign the joint venture agreement on Dec. 10.
The two firms were finalizing the precondition, the divestiture of Antam's nickel ore mining arm PT Sumber Daya Arindo (SDA), as well as several cooperation measures in the upstream and downstream businesses, he explained.
“There will be a joint venture signing, there will be a close of the transaction. Afterward, [upstream operations] will begin,” Dewa told reporters in Jakarta on Monday in response to a question about when the joint venture would begin operations.
Read also: Antam sells stake in Halmahera industrial park operator to CATL unit
