[SMM Nickel Flash News] CNGR Reportedly Negotiating to Acquire 80% Stake in GNI

Published: Oct 15, 2026 12:51 (GMT+8)

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CNGR Advanced Material Co. is reportedly in talks to acquire an 80% stake in PT Gunbuster Nickel Industry (GNI), an Indonesian nickel pig iron (NPI) producer. The deal could be completed in early 2027, following GNI's debt restructuring. GNI previously targeted annual NPI production capacity of 1.8–1.9 million tonnes but suspended operations at two of its three smelters amid financial difficulties in August 2026.

The acquisition could facilitate the restart of idle smelting capacity and support nickel ore demand. However, the timing and scale of any recovery will depend on debt restructuring and the resumption of operations.

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