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Vale Base Metals to invest $10 billion in Indonesia over next decade
Vale Base Metals is committing $10 billion for investment in Indonesia over the next decade to capture demand for metals such as nickel and copper for electric vehicle production, its chief executive said on Thursday.
The investment is part of the company’s plan to spend $25 billion to $30 billion in new projects in Brazil, Canada and Indonesia over the next decade.
It will also further Indonesia’s ambition to be a global hub for the battery materials for EVs and even the vehicles themselves. The country, Southeast Asia’s largest economy, has the world’s largest reserves of nickel ore and large amounts of copper and bauxite for aluminum.
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- [Editor:邢亞敏]
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