Bakrie & Brothers to Acquire a Nickel Mine in Sulawesi

Summary

PT Bakrie & Brothers Tbk (BNBR) is seeking to acquire a nickel mine on the resource-rich island of Sulawesi to supply a planned integrated industrial park for producing electric vehicle batteries, a senior executive said on Friday. Last month, the company formed a consortium with Chinese energy firm Envision and global commodities giant Glencore to explore investment in an industrial park for the global nickel supply chain.

Reuters reported that Bakrie & Brothers Chief Executive Officer (CEO) Anindya Bakrie told a forum on the sidelines of the World Economic Forum (WEF) in Davos this week that the planned 2,000-hectare park would require US$9 billion worth of investment for everything from nickel smelting to battery manufacturing.

Gilarsi W. Setijono, managing director of BNBR's EV distribution unit PT VKTR Teknologi Mobilitas, said the Indonesian company was planning to acquire a nickel mine in central or southeast Sulawesi to supply the park. "[The mine] will have enough reserves for about 140 gigawatt-hours [of batteries] for the next 25 years," he said without giving further details.

Start your free trial.

If you would like to get a 30-day free unlimited access to all of our insights, please click “Start free trial” button below. If you already have an account, please login.

What do subscribers receive?

As a subscriber, you’ll receive daily insights, weekly business digests, and quarterly industrial reports.

What kind of pieces will i get?

In-depth reports on assumption and impact analysis, as well as update and trends mapping, written by our credible and experienced analysts.

And, there is something else…

Enjoy a 30-day free trial, on us. Feel free to contact us with any additional questions you have.