Supply of nickel intermediate MHP from Indonesia for batteries is set to rise five-fold this year, according to Benchmark Minerals’ Nickel Forecast. Demand for more powerful nickel-containing batteries is set to grow by 42% this year, according to Benchmark, as sales of electric vehicles accelerate. Huayue Nickel Cobalt is a significant strategic project to build an integrated industrial chain of new-energy lithium battery materials. Huayou says the Indonesian project is of great significance to ensure the future supply of nickel and cobalt resources and build a competitive nickel raw material manufacturing base for new energy power batteries. The shipment from the Huayue project in Indonesia marks the start of what is expected to be a rapid increase in supply of nickel for batteries from the country this year, Benchmark observed.

Source: The Guardian February 19, 2022 15:31 UTC