Latest news with #Tsingshan
South China Morning Post
10-07-2025
- Business
- South China Morning Post
Chinese tycoons drive Indonesia's aluminium boom, echoing nickel success
Chinese tycoons are turbocharging Indonesia 's aluminium industry with multibillion-dollar projects that rival the vast bets made on the country's nickel riches roughly a decade ago, and threaten to shake up the global market for the metal. Grappling with production curbs back home, companies like billionaire Xiang Guangda's Tsingshan Holding, China Hongqiao and Song Jianbo's Shandong Nanshan Aluminum are turning to Southeast Asia 's largest economy, ploughing cash into new smelters and refineries. Goldman Sachs estimates Indonesian aluminium production could rise fivefold by the end of the decade. The question metals traders are now asking is whether Chinese capital can continue to pour investments into the country without ultimately tarnishing the outlook for the energy-intensive metal required for everything from soda cans to robotics and electric vehicles. Nickel provides a cautionary tale. Indonesia accounted for roughly 7 per cent of global mine production a decade ago – it now accounts for closer to 60 per cent, thanks to cheap coal power and Chinese smelters. Workers at Indonesia's Morowali Industrial Park, which hosts primarily nickel-related industries. Photo: Riza Salman Having underestimated that rapid rise, metals giants like BHP Group have been forced to close operations in Australia and elsewhere. Even the Indonesian industry is now creaking under the weight of its own success.
Bloomberg
09-07-2025
- Business
- Bloomberg
Chinese Tycoons Are Turning Indonesia Into an Aluminum Giant
Chinese tycoons are turbo-charging Indonesia's aluminum industry with multi-billion dollar projects that rival the vast bets made on the country's nickel riches roughly a decade ago, and threaten to shake up the global market for the metal. Grappling with production curbs back home, companies like billionaire Xiang Guangda's Tsingshan Holding Group Co., China Hongqiao Group Ltd. and Song Jianbo's Shandong Nanshan Aluminum Co. are turning to Southeast Asia's largest economy, ploughing cash into new smelters and refineries. Goldman Sachs Group Inc. estimates Indonesian aluminum production could rise five-fold by the end of the decade.
Business Times
30-06-2025
- Business
- Business Times
China sticks to stainless-steel levies despite Indonesia pain
[BEIJING] China will press on with levy anti-dumping duties on imports of stainless-steel products, including from Indonesia, as it seeks to protect a domestic industry battered by persistent oversupply and trade uncertainty. Some traders and industry executives had expressed hopes the world's largest metal consumer would reconsider its tariffs, particularly for Indonesia, given the role that Chinese companies have played in expanding the nickel and stainless steel production in Indonesia, today among the top suppliers of both. Beijing, however, has now ruled that lifting the measures would risk hurting its industry at home, according to a statement posted on the commerce ministry website on Monday (Jun 30). The levies – which cover stainless steel billet and hot-rolled coil from the European Union, the UK, South Korea and Indonesia – will remain in place for another five years. When they were introduced in July 2019, China's tariffs surprised the industry, given almost all stainless steel products from Indonesia in particular come from local ventures of large Chinese companies including Tsingshan Holding Group. Together, the two nations produce close to three-quarters of the world's stainless steel. But China's slowing economy has hit demand, and both countries are threatened by the Trump administration's aggressive tariff policies. Both nickel traded on the London Metal Exchange and stainless steel in Shanghai hit their five-year lows earlier this year amid sluggish demand and squeezed production margins. Tsingshan has been compelled to start suspending some stainless steel production at the Indonesia Morowali Industrial Park on the island of Sulawesi. The levies on Indonesian producers will remain unchanged at 20.2 per cent, China's statement said. The trade ministry also kept a 43 per cent duty on all stainless-steel products from EU and UK companies and 103.1 per cent for most South Korean companies, according to the statement. Levies on products by Posco Holdings, which has a price commitment with the Chinese government, will be kept at 23.1 per cent. In the domestic stainless market, privately owned Tsingshan and rival Jiangsu Delong Nickel Industry complete with state-owned titan China Baowu Steel Group. BLOOMBERG
Yahoo
19-06-2025
- Business
- Yahoo
Indonesia to sanction companies for environmental breaches at nickel industrial park
The Indonesian Government is set to impose sanctions on companies for environmental violations at the Morowali Industrial Park (IMIP), a major hub for the country's nickel production, according to a report by Bloomberg. The Ministry of Environment has cited issues such as poor wastewater management, air pollution and the use of unlicensed tailing areas. These sanctions will include government directives and fines for those found to be in breach of environmental laws. The IMIP, which houses numerous nickel smelters, will face a comprehensive audit as part of the government's crackdown. Deputy for Environmental Law Enforcement Rizal Irawan was quoted as saying: 'Sanctions on IMIP will be in the form of government directives and fines on companies proven to have violated laws." This move represents a rare but decisive step by the Indonesian Government to address the environmental impact of its rapidly expanding nickel industry. The nickel industry in Indonesia, which contributes more than half of global production, has been under scrutiny for its environmental footprint and safety concerns. The sector, predominantly owned by Chinese interests, has been rapidly growing this decade. Tsingshan Holding Group, a Chinese metals conglomerate, controls the IMIP, which has received investment of more than $30bn. Located on Sulawesi Island, the industrial park spans 2,000 hectares and employs more than 100,000 individuals. In April, the IMIP experienced a suspension of operations and increased scrutiny regarding its nickel extraction methods after a landslide. The incident sparked concerns regarding the safety of high-pressure acid leaching techniques employed in nickel extraction at the park. In a related development, the Indonesian Government recently revoked mining permits for four nickel ore companies in the Raja Ampat region. This decision followed extensive protests over environmental damage in the area, known for its exceptional marine biodiversity and status as a UNESCO Global Geopark. "Indonesia to sanction companies for environmental breaches at nickel industrial park" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Reuters
18-06-2025
- Business
- Reuters
Indonesia finds environmental violations in Morowali nickel hub
JAKARTA, June 18 (Reuters) - A nickel processing hub managed by PT Indonesia Morowali Industrial Park (IMIP) has been ordered to rectify a series of "serious" environmental violations, including the construction of plants on unapproved land, the environment ministry said on Wednesday. PT IMIP built plants and conducted other activities on 1,800 hectares (4,447.9 acres) of land that were not included in IMIP's original environmental impact assessment report, the ministry said in a statement. The ministry found an estimated 12 million metric tons of illegal tailing deposits, while air pollution in the area also exceeded allowed parameters, it added. "PT IMIP must stop activities that are not covered by its environmental approval," Environment Minister Hanif Faisol Nurofiq said. The company did not immediately respond to a request for comment. On its website, the company said it is committed to maintaining sustainable and environmentally friendly operations. IMIP is the largest nickel processing hub in resource-rich Indonesia, covering a total of 4,000 hectares and has over 50 tenants, mainly makers of nickel products for stainless steel and EV battery materials, according to the company website. According to the ministry, IMIP's total industrial area stands at 2,000 hectares. IMIP counts giant Chinese steelmaker Tsingshan Holding Group among its shareholders. The ministry said it will impose fines on the company, and police will also launch an investigation into the management of hazardous and toxic tailings in the area. "We will order an environmental audit of the entire IMIP industrial area. On findings of hazardous waste tailings, we will proceed with a criminal and civil legal process," said Rizal Irawan, a senior official at the ministry.
