Jakarta, Aug. 27 -- Sovereign wealth fund Danantara has announced a partnership for a nickel project valued at an estimated US$1.42 billion with GEM Limited, a global company from China specializing in green metallurgy and circular economy solutions.

The collaboration was formalized through the signing of a Head of Agreement (HoA), outlining a framework for potential joint investment in a High-Pressure Acid Leach (HPAL) smelting facility, planned to produce 66,000 tons of nickel in mixed hydroxide precipitate per year.

Chief Executive Officer (CEO) of Danantara, Rosan Roeslani, stated in an official statement in Jakarta on Wednesday that the partnership with GEM Limited marks a significant milestone in the agency's mission to catalyze s...