POSCO, Lygend to Build Nickel Plant in Sulawesi

By Editorial Team 27/02/2023
Summary

POSCO Holdings has secured the Indonesian nickel supply network after signing a memorandum of agreement (MOA) with Lygend Resources & Technology from China in Jakarta, Korea Times cited the company announcement on Friday.

Under this agreement, POSCO Holdings and Lygend will build a nickel mixed hydroxide precipitate (MHP) production plant in Sulawesi with an annual capacity of 60,000 tons that is expandable to 120,000 tons. The construction will start this year and expectedly completed by 2025.

"By cooperating with Lygend, a leading nickel hydrometallurgical company, we will be able to strengthen further the competitiveness of the nickel business, which is one of the pillars of the POSCO Group's secondary battery material business, by stably securing cost-competitive Indonesian nickel, " Lee Kyung-sub, head of POSCO Holdings' LiB Materials Business, said.

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