And yet building a brand new Indonesian HPAL plant moves the needle for them? From late last year when they were planning to sell Goro project and invest billions of dollars in Indonesia:
https://www.argusmedia.com/en/news/2028728-vale-to-exit-new-caledonia-nickel-operationVale emphasised at the investor day that it has no concerns about its Canadian and Indonesian assets and plans to ramp them up to offset the potential New Caledonia exit, which would increase the group's nickel production to 240,000t between 2019 and 2022. The company is working with Japanese mining group Sumitomo Metal Mining in Pomalaa, Indonesia, to develop a 40,000 t/yr nickel HPAL processing plant. The group also has a joint venture with Chinese partners in Bahodopi for 700,000 t/yr ferronickel project.
