- Write by:
-
Monday, November 14, 2022 - 09:45:05
-
416 Visit
-
Print
Mining News Pro - The MoU was signed on the sidelines of the G20 summit in Bali, Indonesia.
According to Mining News Pro - Indonesian metals company PT Adaro Minerals Indonesia has signed a memorandum of understanding (MoU) with South Korea’s Hyundai Motor Company on aluminum supply for automobile manufacturing, Adaro said in a statement on Sunday.
The MoU was signed on the sidelines of the G20 summit in Bali, Indonesia.
Under the MoU, Hyundai would secure the right to purchase aluminum produced by Adaro’s subsidiary PT Kalimantan Aluminum Industry at an early stage of production, the statement said.
Adaro Minerals is a unit of Indonesia’s second-largest coal miner Adaro Energy.
“We hope to achieve commercial operation date by the first quarter of 2025 and produce 500,000 tonnes per annum aluminum in initial stage,” said Christian Ariano Rachmat, president director of Adaro Minerals.
Last year, Hyundai Motor Group and LG Energy Solution set up a joint venture to establish a battery cell plant for electric vehicles in West Java province, with an investment of $1.1 billion, and each company owning half the business. Construction of the plant is expected to be completed in the first half of 2023.
Short Link:
https://www.miningnews.ir/En/News/622339
Barrick Gold Corp.’s chief executive officer says the gold miner will continue to host virtual-only annual general ...
China’s copper producers are planning to export up to 100,000 metric tons of metal, the largest volume in 12 years, ...
A takeover of Anglo American Plc would need to be pitched at more than £30 ($37.6) per share, a higher price than BHP ...
Barrick Gold is not interested in bidding for Anglo American, which last week received a $39 billion takeover offer from ...
BHP Group can’t cherry pick Anglo American assets without paying a hefty premium, Anglo investors told Reuters, ...
Anglo American faced calls from shareholders on Monday to detail plans for improving its value in order to fend off ...
Copper slipped after initially extending gains above $10,200 a ton as traders turned their attention to demand ...
BHP Group Ltd.’s proposal for Anglo American Plc to spin off platinum and iron ore units before a takeover would likely ...
Glencore expects profit at its trading division this year to be at the top end of its long-term annual guidance, in an ...
No comments have been posted yet ...