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China-Backed $3 Billion Indonesia Nickel Smelter Risks Shutdown (www.bloomberg.com)

submitted 1 week ago* (last edited 1 week ago) by [email protected] to c/indonesia

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One of the biggest nickel smelters in Indonesia has slashed production and is close to shutting down completely, just months after the collapse of its Chinese parent company.

PT Gunbuster Nickel Industry, which is affiliated with bankrupted stainless steel giant Jiangsu Delong Nickel Industry Co., is delaying payments to local energy suppliers and is unable to procure nickel ore, according to people familiar with the situation. The smelter will likely halt production soon if the situation persists, said the people, who asked not to be named as the matter is sensitive.

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