According to the Indonesian Nickel Miners Association (APNI), the Indonesian Investment Authority Danantara is expected to form a consortium with Chinese companies to jointly acquire the nickel smelter assets of PT Gunbuster Nickel Industry (GNI). The acquisition plan is still under development, with Danantara awaiting stakeholder approval and conducting due diligence, planning to proceed with mining state-owned enterprise parent company MIND ID as the main partner. Danantara intends to prepare approximately US$20 billion in initial acquisition funds, with an additional US$60 million in syndicated loan support for medium-term liquidity. As of now, GNI is still affiliated with China's Jiangsu Delong Nickel Industry Co., which is facing financial issues in China. GNI operates more than 20 nickel pig iron (NPI) production lines for stainless steel raw material production, but since early 2024, almost all have been halted, with only a few lines still running. It is estimated that over 15 lines have been shut down, nearing a complete halt. The company is awaiting a creditors' meeting to secure new funding, expected in August 2025. Located in North Morowali, Central Sulawesi Province, the facility uses pyrometallurgical or rotary kiln electric furnace (RKEF) technology with an annual capacity of 1.9 million tons of NPI, also producing nickel pig iron for the stainless steel and nickel alloy industries. It previously reached preliminary agreements with PT Aneka Tambang Tbk. (ANTM), a subsidiary of Indonesia's state-owned mining holding company, and Alchemist Metal Industry Pte Ltd to develop smelter operations in North Konawe and North Morowali. Danantara's CEO confirmed that the acquisition of GNI is being considered because it is a national strategic nickel downstream project and may proceed if it meets investment criteria. An Industry Ministry official stated that GNI remains a subsidiary of Jiangsu Delong and is awaiting a creditors' meeting.
According to the Indonesian Nickel Miners Association (APNI), the Indonesian Investment Authority Danantara is expected to form a consortium with Chinese companies to jointly acquire the nickel smelter assets of PT Gunbuster Nickel Industry (GNI). The acquisition plan is still under development, with Danantara awaiting stakeholder approval and conducting due diligence, planning to proceed with mining state-owned enterprise parent company MIND ID as the main partner. Danantara intends to prepare approximately US$20 billion in initial acquisition funds, with an additional US$60 million in syndicated loan support for medium-term liquidity. As of now, GNI is still affiliated with China's Jiangsu Delong Nickel Industry Co., which is facing financial issues in China. GNI operates more than 20 nickel pig iron (NPI) production lines for stainless steel raw material production, but since early 2024, almost all have been halted, with only a few lines still running. It is estimated that over 15 lines have been shut down, nearing a complete halt. The company is awaiting a creditors' meeting to secure new funding, expected in August 2025. Located in North Morowali, Central Sulawesi Province, the facility uses pyrometallurgical or rotary kiln electric furnace (RKEF) technology with an annual capacity of 1.9 million tons of NPI, also producing nickel pig iron for the stainless steel and nickel alloy industries. It previously reached preliminary agreements with PT Aneka Tambang Tbk. (ANTM), a subsidiary of Indonesia's state-owned mining holding company, and Alchemist Metal Industry Pte Ltd to develop smelter operations in North Konawe and North Morowali. Danantara's CEO confirmed that the acquisition of GNI is being considered because it is a national strategic nickel downstream project and may proceed if it meets investment criteria. An Industry Ministry official stated that GNI remains a subsidiary of Jiangsu Delong and is awaiting a creditors' meeting.