The Indonesian Nickel Miners Association (APNI) confirmed that Danantara, together with Chinese partners, is considering the acquisition of PT Gunbuster Nickel Industry (GNI) in Central Sulawesi.
The plan is under review, with stakeholder approvals and due diligence in progress, alongside state-owned MIND ID as a key partner. Danantara has prepared around US$2 billion in initial funding, supported by an additional US$60 million syndicated loan.
GNI, a subsidiary of Jiangsu Delong Nickel Industry, currently faces financial difficulties and has suspended most of its more than 20 nickel pig iron production lines used for stainless steel raw material. A creditors’ meeting scheduled for August 2025 will be critical to determining the next steps.