Indonesia: Vale signs $2 billion nickel project deal with Shandong Xinhai, Baowu

Vale, a nickel miner in Indonesia, has recently signed an investment deal with China’s Shandong Xinhai Technology Co Ltd and a unit of China Baowu Steel Group Corp Ltd to develop a processing plant on Sulawesi Island, as per latest reports. The plant will produce 73,000-80,000 t of ferronickel per year. The project would cost around $2.1 billion.