BSX Day to Day SP discussion, page-1781

Nickel prices are much higher and spot case NPV post tax was $3.5B (nickel price around $19.5k)

We will use nickel sourced from third parties as well as from our project. Hence bringing Trafigura onboard.



“We are delighted to have laid the foundations for our relationship with Trafigura, a globally significant trading company. Blackstone is taking steps to become a significant global, green nickel product supplier catering to the battery market.”

“We believe Vietnam is ideally situated to manufacture green nickel products, given its competitive costs, abundant supply of renewable energy and excellent infrastructure. In recent years, the country has demonstrated an enviable record of attracting foreign direct investment, particularly from Asian countries. In addition, our strategy to upscale the downstream business is particularly pertinent, given leading battery manufacturers have indicated the potential to construct battery manufactory facilities in country.”

“The economic return on capital invested downstream is underpinned by superior margins achieved by producing downstream products. We are confident we can deliver a robust downstream processing flow sheet, enabling value to be realised from our mining inventory at Ta Khoa, as well by purchasing and subsequently refining of a range of nickel & cobalt materials. The purchase of third-party nickel & cobalt materials not only adds scale to the downstream business, it also adds diversification and reduces risk across the Company’s portfolio of assets in Vietnam.”