China’s Huayou plans $200.4 million acquisition to boost nickel capacity in new energy

China’s battery material producer Zhejiang Huayou Cobalt is planning to pay $200.4 million for Perlux Limited's nickel assets in a bid to boost the metal's usage in the new energy sector as the global electric vehicle (EV) market grows.

Huayou International Mining, a wholly owned subsidiary of Huayou, will hold 50.1% shares of the Andalan Metal Industry (AMI) after the sale. AMI is a nickel ore processor under Perlux,...


Yiwen Ju

July 27, 2023

07:40 GMT