Indonesia is keen to develop its own EV and battery industries at home, after banning exports of nickel ore to ensure supply for investors since 2020.

Company has said it wants to build a gigafactory in western Europe and one in eastern Europe.

The Indonesia Battery Corporation plans to produce 50,000 battery packs for two-wheelers next year.

Chinese firms have been involved in 89 announced acquisitions and investments in Canadian metals and mining companies in the past decade, according to Bloomberg data.

GM is investing $35 billion to make its lineup fully electric by 2035, while Ford is plowing $50 billion.

The 10-year debt facility will go toward expanding mining and processing at the Pilgangoora project.

A growing number of member states of the ISA have called for a “precautionary pause” or moratorium on mining due to the lack of scientific data on fragile and biodiverse deep ocean ecosystems targeted for exploitation.

Nouveau Monde intends to use the funds to update the July 2022 feasibility study for its phase 2 commercial integrated operation.