Posted on 20 Sep 2024
Indonesian state-owned miner Aneka Tambang (ANTAM) has partnered with Sulsel Citra Indonesia (SCI) and Luwu Timur Gemilang (LTG) for nickel development in the country, Kallanish Power Materials learns.
The companies have formed a joint venture to develop nickel mining in the Pongkeru Block, East Luwu, South Sulawesi, in accordance with a ministerial decree.
ANTAM takes the lead in this collaboration as the major shareholder. SCI and LTG, as the provincial and regency regional-owned enterprises, respectively, will play a supporting role with minority shares. The shareholdings, however, were not disclosed in ANTAM’s announcement.
The joint venture is expected to become a “key player in the nickel business chain in Indonesia, with optimal contribution to the national mining sector.”
ANTAM president director Nico Kanter describes the JV as a synergy between state-owned enterprises and regional-owned enterprises to optimise nickel potential in the Pongkeru Block.
“We believe this collaboration will provide long-term added value for the national nickel industry,” he adds, without elaborating.
It’s unclear if the future development will target demand from the steel or EV battery sector.
Nickel miners across the globe are struggling with low nickel prices amid a market surplus driven primarily by Indonesian supply. The Southeast Asian nation auctioned earlier this year three new nickel mining blocks, one of which being Pongkeru. The government had prioritised these special mining business licence blocks for state- and regional-owned companies.
Source:Kallanish Power Materials
