Jiangsu Delong Nickel Industry's shares in its Indonesian assets have been taken over by its Chinese partners in the country, with the exception of PT Gunbuster Nickel Industry (PT GNI).

Jiangsu Delong previously held interests in four nickel pig iron (NPI) operating assets in Indonesia: PT Virtue Dragon Nickel Industry (PT VDNI), PT Obsidian Stainless Steel (PT OSS), PT Nadesico Nickel Industry (PT NNI), and PT GNI.

PT GNI, which represents phase 3 of Delong's Konawe Industrial Park, is the only asset wholly owned by Jiangsu Delong. Operations commenced in 2022 and the facility has a capacity to produce 180ktpy Ni-in-NPI. Jiangsu Delong is currently in negotiations with Xiamen Xiangyu for a potential takeover. In late February, Indonesia's Centre of Economic and Law Studies (CELIOS) suggested that the most direct and feasible approach would be for Indonesia's sovereign wealth fund, Danantara, to acquire shares in PT GNI, and encouraged domestic investors, particularly state-owned mining holding company, MIND ID, to participate in this acquisition.

PT VDNI, the phase 1 asset within the Konawe Industrial Park, commenced operations in 2017 with a capacity of 105ktpy Ni-in-NPI. Initially established as a joint venture comprising China First Heavy Group (CFHG) (59%), Jiangsu Delong (40%), and Xiangshui Kangyang Trade Company (1%), it has now been fully taken over by CFHG.

PT OSS, the phase 2 asset, began operating in 2020, initially as a joint venture between Xiamen Xiangyu Group (51%) and Jiangsu Delong (49%), with a capacity of 240ktpy Ni-in-NPI. It is currently fully owned by Xiamen Xiangyu.

PT NNI, which represents phase 4 of the industrial park, started operations in 2024, featuring a total capacity of 140ktpy of nickel-in-NPI and nickel matte. Originally a joint venture between CNGR (67%) and Jiangsu Delong (33%), it is now entirely owned by CNGR.

Project Blue is tracking 35 NPI operations in Indonesia (excluding multiple phases), which have a total capacity of 1.9Mtpy Ni. Given the substantial NPI capacity already available in the market, the potential shutdown of PT GNI would not significantly alter the current oversupply situation in the nickel market. At most, it could create a temporary nickel shortage for certain Chinese stainless steel producers in the short term.