Nickel Industries: To Acquire Part of PT CNE Stake, Annual Capacity of 28,357 mt Ni, Production Expected in Mid-2027

Published: Jun 24, 2026 09:38

Save

[Nickel Industries: To Acquire Part of PT CNE Stake, Designed Annual Capacity of 28,357 mt Ni, Production Expected in Mid-2027] Nickel Industries announced it has entered into a long-term strategic cooperation and signed a framework agreement with a local Indonesian partner and Indonesian investor PT Jaya Agung Investasi (JAYA) for nickel ore mining and high-pressure acid leach (HPAL) processing. Under the agreement, JAYA will acquire an 85.7% equity interest in PT Chengsheng New Energy (CNE), while under the framework agreement such rights will be acquired by Nickel Industries and the local partner in exchange for a 30% interest in the two IUPs of the Sampala project, namely PT Abadi Nikel Nusantara and PT Erabaru Timur Lestari.

PT Chengsheng New Energy owns an HPAL project being developed on the same site as ENC within Indonesia’s IMIP as an expansion of ENC, producing mixed hydroxide precipitate (MHP) for the EV battery supply chain. CNE has an annual capacity of 28,357 mt Ni, with production expected to commence in mid-2027. Nickel Industries’ attributable MHP production is 10,208 mt Ni per annum.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

44 mins ago

[SMM Stainless Steel Flash] EU TRQ Details Leak Out

Concrete figures on the EU safeguard successor's country-specific steel import quotas have begun to surface for the first time, with an Asian industry minister reportedly indicating that individual countries may have been granted significantly higher quotas than previously assumed, suggesting Trade Commissioner Šefčovič may have made greater concessions than anticipated. The minister reportedly stated that nothing had been offered to the EU and warned the measure could violate free trade agreements, with countermeasures possible. Data remains unverified and markets await official publication.

44 mins ago

48 mins ago

[SMM Stainless Steel Flash] Chinese Taiwan's Stainless Steel Prices Face Turbulence in H2 2026

Chinese Taiwan's upstream mills including Yusco and Tang Eng repeatedly raised stainless steel prices in H1 2026, supported by a nickel price rebound and Indonesian supply policies. However, momentum is fading as downstream processors and distributors report sluggish orders and difficulty passing costs on to end customers, with buyers adopting a cautious, hand-to-mouth purchasing approach. For H2, analysts see prices caught between a firm cost floor, underpinned by Indonesian refined nickel capacity and Asian billet prices, and a demand ceiling where EU CBAM levies and a disappointing global manufacturing recovery are suppressing export orders. A mild restocking pickup is possible around October as seasonal demand improves, but mill-buyer price negotiations are expected to remain tense throughout the period.

48 mins ago

55 mins ago

[SMM Stainless Steel Flash] Chinese Taiwan Assesses Low Impact from Japan's Provisional Stainless Steel Tariffs

Japan plans to impose provisional anti-dumping duties from July on nickel-based cold-rolled stainless steel sheets and coils from Chinese Taiwan, Chinese Taiwan's Ministry of Economic Affairs stated on June 22 that overall export damage is limited: China Steel Corporation does not produce the investigated products; leading exporter Yusco secured the lowest rate of 3.86%, preserving its competitive position; and Walsin Lihwa primarily exports non-investigated products to Japan. Domestic mills note that Japan represents a minor share of Chinese Taiwan's total stainless steel exports. Government officials have pledged to maintain dialogue with Japanese counterparts and support local industries in adopting AI and low-carbon technologies.

55 mins ago