Indonesia's Danantara Signs $1.42 Billion Deal with GEM for Nickel Plant Development

Danantara and GEM Co. have signed a $1.42 billion heads of agreement to develop a $1.4 billion nickel plant in Indonesia, producing 66,000 tons of nickel in mixed hydroxide precipitate per year. The high-pressure acid leach facility is expected to involve collaboration with PT Vale Indonesia and other partners. This is Danantara's latest move into the Indonesian nickel sector, which accounts for over half of global supply.