Due diligence was being conducted, Blackspace director Yosef Paskananda said, adding that his company had asked Indoferro to open its data for evaluation so as to ease the acquisition.

“We have discussed [the acquisition] several times. For now, we want to evaluate their [Indoferro’s] data first,” Yosef said as quoted by kontan.co.id on Friday.

The news came out following an announcement by Growth Steel Group, which said Indoferro was no longer operating its smelter and had handed over its assets to a bank as its creditor.

Yosef, however, refused to give an estimate of when the acquisition could be completed or how much money was involved.

Blackspace recently finished the construction of two production lines of its nickel smelter in Kabaena, Southeast Sulawesi, and is waiting to be commissioned.

The company plans to expand the smelter into a 10-line facility, with an input capacity of 350,000 tons of ore per year on each line.

Yosef said the company was unperturbed by the government’s export restrictions as stipulated in the Energy and Mineral Resources Ministry’s Decree No. 6/2017.

“In fact, we are planning to build 52 more smelter lines in Morowali [Central Sulawesi].”

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