Tengyuan plans Indonesia unit to study nickel, cobalt market
Wednesday, March 18 2026 - 03:01 PM WIB
By Dominikus
Chinese firm Ganzhou Tengyuan Cobalt New Materials Co Ltd plans to establish a new subsidiary in Indonesia to study the nickel and cobalt market and explore potential investment opportunities, according to a regulatory filing.
The proposed entity, PT Tengyuan Nickel Cobalt Resources Indonesia, will be based in Jakarta and focus on assessing trade flows and identifying potential projects in the country’s battery metals sector.
The filing indicates the initiative is at an early stage, with activities limited to market research and commercial evaluation rather than immediate mining or smelting development.
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Tengyuan produces battery materials including cobalt, nickel and lithium products, as well as electrolytic copper, and is expanding capacity for refined metals such as 30,000 tonnes of electrolytic nickel and 3,000 tonnes of electrolytic cobalt.
The move comes as Chinese battery material companies continue to expand in Indonesia, attracted by its large nickel reserves and growing downstream processing industry.
The company said no investment value or timeline has been set for the planned unit.
Editing by Alexander Ginting