CBL joins hands with Indonesia’s ANTAM and IBI on the Indonesia EV Battery Integration Project
With a joint investment of nearly 6 billion USD, the project focuses on nickel mining and processing, battery materials, battery manufacturing as well as battery recycling
The partnership marks an important milestone for CATL’s global footprint expansion, and will promote the electric vehicle industry of Indonesia as well
NINGDE, China, April 14, 2022 /CNW/ — On April 14, Ningbo Contemporary Brunp Lygend Co., Ltd. (CBL), a subsidiary of Guangdong Brunp Recycling Technology Co., Ltd (Brunp), signed a tri-party framework agreement with PT Aneka Tambang (ANTAM) and PT Industri Baterai Indonesia (IBI) to cooperate on the Indonesia EV Battery Integration Project, which includes nickel mining and processing, EV battery materials, EV battery manufacturing, and battery recycling. Brunp is a subsidiary of Contemporary Amperex Technology Co., Limited (CATL).
With a joint investment of 5.968 billion USD, the project is located in the FHT Industrial Park of East Halmahera of Indonesia’s North Maluku Province and other places in the country as well.
ANTAM is a member of the state-owned mining company MIND ID of Indonesia. IBI, or the Indonesia Battery Corporation, is a state-owned company engaged in the battery electric vehicle and EV ecosystem, and also a subsidiary of MIND ID and ANTAM.
The project will further enhance CATL’s footprint in the battery industry, ensure the supply of upstream raw materials and resources, lower manufacturing cost, and promote the development of the battery recycling business.
“The Indonesia project is an important milestone for CATL as we expand our global footprint, and it will become an emblem of the everlasting friendship between China and Indonesia,” said Robin Zeng, founder and chairman of CATL. “We are fully confident in the development of the project in the future.”
“The framework agreement we signed today is of significant importance to Indonesia as we strive to build out an EV ecosystem,” said Luhut Binsar Pandjaitan, Coordinating Minister for Maritime Affairs and Investments. “I believe with the concerted efforts from all parties, the project will be successfully implemented.”
SOURCE CATL
For further information: Media Contact: Fred Zhang, Email: [email protected]
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
