Inp.polri.go.id - Jakarta.  Indonesia’s sovereign wealth fund Danantara, through its investment arm Danantara Investment Management (DIM), signed a Head of Agreement (HoA) with China’s GEM Limited for a potential nickel smelter project worth $1.42 billion (Rp23.11 trillion). 

The facility will use High-Pressure Acid Leach (HPAL) technology with a planned output of 66,000 tons of mixed hydroxide precipitate annually.

“This partnership with GEM Limited marks a milestone in accelerating Indonesia’s socio-economic transformation. By integrating green energy, R&D, and closed-loop recycling, we aim to create long-term value for both Indonesia and our investment partners,” said Danantara CEO Rosan Roeslani on Wednesday (27/8/2025), as quoted by antaranews.com.

The project, expected to involve PT Vale Indonesia Tbk and other global partners, will be based at the Indonesia Green Industrial Park. It is projected to generate up to 80,000 jobs in the next five years.

GEM Limited, a leader in green metallurgy and circular economy, has invested heavily in Indonesia, including joint research labs with ITB and advanced nickel-based energy materials.

(mg/inp/pr/rs)