China's Huayou, EVE Energy to invest $2.1b in Indonesia nickel project

A worker watches as trucks load up raw nickel near Sorowako, Indonesia's Sulawesi island, January 8, 2014. REUTERS/Yusuf Ahmad/File Photo

China’s Zhejiang Huayou Cobalt Co said on Monday it would partner electric vehicle battery maker EVE Energy and others in a $2.08 billion nickel and cobalt project in Indonesia.

The company is also splashing out $210 million on a stake in Chinese battery materials producer Tianjin B&M Science and Technology Co (B&M) as it makes investments across the rechargeable battery supply chain.

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