Indonesian state-owned miner PT Aneka Tambang (Antam) ANTM.JK has secured a 30 per cent stake valued at $102 million in a smelter operated by a subsidiary of Chinese stainless steel leader Tsingshan Holding Group.
Indonesian state-owned miner PT Aneka Tambang (Antam) ANTM.JK has secured a 30 per cent stake valued at $102 million in a smelter operated by a subsidiary of Chinese stainless steel leader Tsingshan Holding Group, according to a recent exchange filing.
Through its nickel-mining subsidiary PT Gag Nikel, Antam acquired shares in PT Jiu Long Metal Industry, a company founded in 2020 and managed by Eternal Tsingshan Group Ltd. The smelter is located in Weda Bay Industrial Park, as per information from North Maluku’s government.
