Antam plans to acquire smelter owned by Tsingshan unit

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

“In order to realize 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).