The 18 May report to the NIC AGM indicates power plants totalling almost 4GW across the Morowali and Weda Bay industrial parks. NIC and Tsingshan Decent have shared ownership of these plants and I assume they are coal-fired. Tsingshan has stated an intention to build 7GW of solar, wind, and hydro plants to power its Indonesian nickel production: https://www.argusmedia.com/en/news/2194877-chinas-tsingshan-plans-clean-energy-plant-in-indonesia So far, NIC management has given no indication that they are contributing to Tsingshan's plan. In fact they give the impression of blythe unawareness of any need to move away from coal. I don't believe ignorance is the case here but I do believe it is high time NIC management stated their plans for reducing the carbon burden of their nickel extraction.
NIC Price at posting:
95.5¢ Sentiment: None Disclosure: Held
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