Today, Delong Steel will share with you the latest developments in the global stainless steel industry.

PT Trimegah Bangun Persada Tbk's (NCKL) nickel plant plans to expand and build a stainless steel or stainless steel plant. This is directly stated by NCKL Chief Director Roy Arman Arfandy.

During the meeting on June 28, Roy said that investment in stainless steel plants was worth more than US$1 billion or 15 trillion dong (calculated at the exchange rate of 15,000 dong). Negotiations with investors are expected to be completed by the end of the year, and the stainless steel plant can be completed in 2024.

NCKL will develop downstream products from saprolite to ferronickel to stainless steel. He said he was in talks with investors and big players in the industry and hoped to be able to make an announcement by the end of the year. According to the plan, the production capacity is expected to reach 2-3 million tons per year. But according to Roy, the potential investors are not from China.

In addition, PT Halmahera Persada Lygend (PT HPL), a subsidiary of PT Trimegah Bangun Persada Tbk (NCKL), exported nickel sulfate overseas for the first time in June this year, and is currently seeking opportunities to export to battery producing countries such as Japan and South Korea.

Roy also revealed future expansion plans. Harita Nickel currently owns four mining concessions, he said. Two mines have been excavated and explored for the supply of ore, including limonite and saprolite. The other two mines on OBI Island have yet to be explored. The two mines are due to be explored in 2024 to add to the company's nickel reserves due to increasing demand.