Merdeka Battery Materials, KDB Join Forces to Boost Battery Industry

By Editorial Team 12/09/2023
NIkel
Summary

PT Merdeka Battery Materials Tbk (MBMA), a subsidiary of Merdeka Copper Gold, has signed a Memorandum of Understanding (MOU) with The Korea Development Bank (KDB) to develop the supply chain of battery materials. The MOU was signed on Sept 8 and aims to support investment from Korean companies to MBMA.

MBMA Corporate Secretary Deny Greviartana Wijaya said that KDB would provide various forms of investment to MBMA, such as equity, term loans, or joint ventures. He said that MBMA also offers broad collaboration opportunities to Korean companies.

“This agreement aims to establish a reliable nickel supply chain and other battery materials minerals and foster the growth of the respective countries’ midstream and downstream battery materials value chains,” Deny said on Monday. Meanwhile, KDB management stated that this collaboration would help Korean companies secure long-term nickel supplies from Indonesia, which is the world’s largest nickel producer.

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