Anthropic Signs $9.1B AI Data Center Deal With Riot Platforms 
Gold Price Hits Two-Month High as Investors Await US Inflation Data 
Apple Tests China’s CXMT Memory Chips for iPhones and MacBooks Amid AI Supply Crunch 
Nvidia Seen Beating Q2 Targets as Vera Rubin Cycle Begins 
Singapore Raises 2026 GDP Growth Forecast to 4.5%-5.5% as AI Boom Fuels Economy 
Natura Q2 Profit Plunges 92% as Financial Expenses Weigh on Earnings 
Dollar Steady as Markets Await U.S. Inflation Data 
Iran War Escalates as US, Houthis Target Ships Near Key Oil Routes 
Oil Prices Rise as Hormuz Tensions Threaten Global Supply 
Asian Currencies Steady Ahead of US CPI as Oil Prices Rise 
Sanrio Shares Plunge as Q1 Profit Miss Overshadows Strong Sales 
Wall Street Slips as Oil Prices Surge 5% on Iran-Hormuz Uncertainty 
UK Retail Sales Rise as World Cup and Heatwave Boost Food, Pubs and Clothing 
ASX Faces Legal Action Over Failed Blockchain CHESS Project 
Airbus Joins Air India A320 Altitude Drop Probe 
Berkshire Hathaway Cash Falls as Abel Boosts Stock Buybacks 
An LGES-led consortium has signed an agreement with Indonesian state-run companies PT Aneka Tambang (a.k.a Antam) and Indonesia Battery on Monday, April 18, to build an electric vehicle battery supply chain.
According to Yonhap News Agency, the non-binding framework contract between the consortium made up of LG Energy Solution (LGES), LX International, LG Chem, and others and Indonesia’s Antam and IBC in Jakarta is worth $9 billion. The aim of the partnership is to establish an end-to-end value chain for EV battery supply in the archipelago that is also called the “The Emerald of the Equator.”
Moreover, the new project also aims to do more than just making a haul for raw materials, production of key components, including cathode materials, and the creation of battery cells.
It is understandable why the LG Group chose Indonesia as it is currently the largest producer of nickel in the world. This chemical element is a key battery material thus, it can easily be sourced in the country.
The signing event this week between the companies was also attended by government officials from Indonesia’s Ministry of Investment and the Ministry of State-Owned Enterprises. It was noted that the project’s announcement comes at a time when producers of EV batteries are scrambling to obtain a continuous supply of key materials for making lithium-ion batteries, especially nickel.
LGES said in a statement, "With this project, we expect to be able to enhance our battery business capabilities and profitability by stably securing raw materials at competitive prices."
Pulse News reported that aside from this project, LG Energy Solution is also building another battery plant in Indonesia with a $1.1 billion investment. This is being carried out via a joint venture with another Korean company, the Hyundai Motor Group.
Their new plant is expected to produce an annual capacity of 10GWh when operation begins in 2024. This amount is enough to power a total of 150,000 units of electric vehicles. Meanwhile, despite the announcements of new projects, it was reported that LGES shares were trading lower by 0.23% at ₩434,000 or around $351.9.
