CNGR will invest in a facility to produce nickel matte with an installed capacity of 80,000 tonnes in a park managed by Antam.

The claims are adjacent to and near Sayona’s North American Lithium (NAL) project that is returning to production early next year.

In September, Indika and Foxconn launched a $2 billion joint venture to make EVs, batteries and energy storage in Indonesia.

Indonesia and Canada are the first and sixth biggest nickel producers in the world, respectively.

BHP was the likely bidder, but it’s also possible it could be a new entrant because the mining giant hadn’t entered a trading halt, analyst says.

US aluminum products maker joins a list of Western companies that have sold their Russian assets to comply with sanctions on Moscow over the Ukraine war. 

Workers at the world's largest copper mine decided to go on strike on November 21 and 23 due to labor demands.

The 2022 PEA also assesses the royalty's impact on the projected results for the three potential mine expansion scenarios.