On January 30, a consortium composed of Huayou Cobalt, Eve Energy, and other parties signed a framework agreement with Indonesia’s state-owned mining giant ANTAM and battery manufacturer IBC. The four parties will jointly invest to establish an integrated industrial ecosystem in Indonesia, spanning from resource development to battery recycling. The signing ceremony was witnessed jointly by four Indonesian ministers. Following the principle of "Indonesian majority ownership in upstream resources, open technological cooperation in midstream and downstream," the project aims to deeply integrate into the country’s "industrial downstreaming" national strategy, advancing the transformation from resources to technology.