BRIEF-Zhejiang Huayou Cobalt, EVE Energy Plan Nickel and Cobalt Project Worth $2.08 Bln In Indonesia

Reuters
24 May 2021

May 24 (Reuters) - Zhejiang Huayou Cobalt Co Ltd

:

* SAYS UNIT, PARTNERS INCLUDING GLAUCOUS INTERNATIONAL PTE LTD, EVE ENERGY CO LTD'S UNIT, LINDO INVESTMENT PTE LTD, AGREE TO SET UP NICKEL AND COBALT PROJECT WORTH $2.08 BILLION IN INDONESIA

* SAYS THE JV WILL BE LOCATED IN INDONESIA'S WEDA BAY INDUSTRIAL PARK

* SAYS THE JV AIMS TO PRODUCE 120,000 TONNES OF NICKEL AND 15,000 TONNES OF COBALT PER YEAR

* SAYS THE JV WILL HAVE AN INITIAL PAID IN CAPITAL OF $10 MILLION

* SAYS ITS UNIT TO INVEST $2 MILLION FOR 20% STAKE IN THE JV, GLAUCOUS TO INVEST $3 MILLION FOR 30% STAKE WHILE EVE ENERGY'S UNIT WILL OWN 17% STAKE WITH $1.7 MILLION INVESTMENT

Source text in Chinese: ; Further company coverage:

(Reporting by Hong Kong newsroom)

((meg.shen@thomsonreuters.com; 852-39525805;))

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