Nickel revolution has Indonesia chasing battery riches tinged with risk
The new HPAL projects, and the surge of inexpensive metal from a country whose deposits have long been unloved by major producers, could push the market into oversupply.
Its chairman also expects the market to maintain its confidence in Codelco, despite rating agency Moody's giving notice of a possible ratings downgrade.
The drill results come almost two months after Lifezone began trading on the NYSE, following the business combination between Lifezone Holdings and special purpose acquisition company GoGreen Investments.
Hyundai plans to buy 50% of nickel it needs for EV batteries through the partnership by 2031 to comply with President Joe Biden’s Inflation Reduction Act.