I don't understand what is in this arrangement for Tsingshan. Nor do I understand what is in it for Nickel Mines. Tsingshan is giving up production capacity which would have been very lucrative for them in the future.
Nickel Mines, as well as taking on the 'captive' 380MW coal fired power plant is captive to a nickel price decided by a formula Tsingshan has dictated.
Nickel Mines has taken the power plant off Tsingshan's hands at a time when China has said it will no longer fund foreign coal-fired power plants, and after Tsingshan has stated their intention to, sometime in the future, power their Indonesian nickel matte production with renewable energy.
Throw into the mix Australia forming alliances against China and buying atomic submarines to face China down, and I'm left a wee bit perplexed about the future here.
Ann: Angel Nickel Project Ownership Increased to 80%, page-8
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