The governments of South Korea and Indonesia have agreed to continue joint investments in electric vehicle and battery production in Indonesia. Moreover, they want to strengthen the supply chain for battery materials such as nickel.

Australia’s Nickel Industries said on Monday it would seek shareholder approval for a A$943 million ($620 million) share placement to pursue growth opportunities including potential expansion at its Excelsior Nickel Cobalt (ENC) project in Indonesia.

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Nickel miner Vale Indonesia is planning to divest 14% of its stake this year to fulfill divestment rules, Indonesia’s mining minister Arifin Tasrif told reporters on Friday.

As many of its manufacturing facilities have been intensively used for a prolonged period, there is a pressing need to shift its energy-intensive equipment to low-carbon mode.

Erenhot has handled 12,000 China-Europe freight train trips since the service was launched in 2013.