A publicly listed diversified mining company, PT Aneka Tambang Tbk (Antam), plans to team up with two Chinese companies to produce cathodes and ferronickel, which would require a multi-billion-dollar investment. Antam announced it hopes the head of agreement (HoA) for the two downstream nickel projects could be signed soon. For the production of the cathodes, which would be used in the manufacturing an electric vehicle (EV) batteries, Antam is to cooperate with a private cobalt supplier, Zhejiang Huayou Cobalt Company Ltd., Antam president director Arie Prabowo Ariotedjo said. He estimated the cathode project would require an investment of between US$6 billion and $12 billion. Arie said that Antam’s parent company Inalum woud also participate in the cathode project while state energy holding company Pertamina was expected to be involved in incorporating the cathodes into E...

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