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Construction|Stainless Steel|Steel
Construction|Stainless Steel|Steel
construction|stainless-steel|steel

Indonesian miner Antam plans to acquire smelter owned by Tsingshan unit

27th August 2024

By: Reuters

  

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JAKARTA - Indonesian State-controlled miner PT Aneka Tambang (Antam) is planning to acquire a smelter owned by a subsidiary of Chinese stainless steel giant Tsingshan Holding Group, its chief executive said on Tuesday.

The plan would be part of the company's non-organic growth strategy, Nicolas Kanter said in a public presentation.

"In order to realise mineral downstreaming and support the development of the EV battery ecosystem in Indonesia, Antam plans to acquire a nickel processing smelter owned by the Tsingshan Group," Kanter said.

The company is currently expanding its downstream operation, which will help support the Indonesian government's ambition to develop a battery production industry.

Separately, it is also preparing to launch construction of two nickel plants under its partnership with China's Ningbo Contemporary Brunp Lygend Ltd (CBL).

Edited by Reuters

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