Gag Nikel

What Gag Nikel does

PT Gag Nikel is an Indonesian-incorporated nickel mining company incorporated in 1998 and headquartered in South Jakarta, with primary mining operations on Gag Island in the Raja Ampat Regency of Southwest Papua Province. The company operates within a 13,136-hectare concession under a 7th-generation Contract of Work (CoW), extracting laterite nickel ore that it categorizes into two product streams: high-grade saprolite ore sold into the Class 2 nickel market for ferronickel production serving the stainless steel industry, and lower-grade limonite ore directed to the Class 1 nickel market for electric vehicle battery raw materials. As of December 31, 2025, total nickel reserves stand at 55.85 million wet metric tonnes (wmt), comprising 12.15 million wmt of limonite and 43.70 million wmt of saprolite. Commercial production commenced in November 2017 following construction of 9 km of haul roads and three sedimentation ponds, and the company has produced and sold nickel ore continuously since 2018.

The company generates revenue through direct B2B sales of nickel ore and ferronickel to industrial buyers in the stainless steel and EV battery supply chains, with procurement conducted via e-procurement systems, tender announcements, and certified business partner processes. Pricing follows LME reference prices and Indonesian Ministry of Energy and Mineral Resources (ESDM) benchmarks rather than publicly disclosed proprietary pricing. PT Gag Nikel is a subsidiary of state-owned PT Aneka Tambang (Persero) Tbk (Antam), which itself operates within the MIND ID state-owned mining holding company, providing institutional backing and access to consolidated procurement and governance infrastructure.

PT Gag Nikel differentiates primarily through ESG positioning rather than technical differentiation: the company holds ISO 9001, ISO 14001, and ISO 45001 certifications, has reclaimed 807.80 hectares of former mining land, consumed 5.97 GJ of renewable energy in 2025 from solar PV and biosolar, and operates an eight-pillar Community Development and Empowerment Program (PPM) that has won the Subroto Award from the Ministry of Energy and Mineral Resources in three consecutive years (2023–2025). Other recognized awards include the Good Mining Practice Award (2023 and 2024 across environmental, conservation, and technical management categories), PROPER Hijau 2023, and Tamasya Awards. Headcount is reported at 101–250 employees, and the company recorded a profit in fiscal year 2025 per AGM statements, though specific revenue figures are not publicly disclosed.

Name

Gag Nikel

Legal name

PT Gag Nikel

Website

https://gagnikel.com

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

101–250 employees

Short description

PT Gag Nikel is an Indonesian nickel mining company, subsidiary of state-owned Antam (MIND ID), operating a 13,136-hectare concession on Gag Island producing saprolite and limonite nickel ore for stainless steel and EV battery supply chains.

Ownership category

akta.pro rank

Product category

Nickel Mining

NAICS

Copper, Nickel, Lead, and Zinc Mining (212230)

SIC

Metal Mining (1000), Miscellaneous Metal Ores (1090)

akta.pro primary industry

Nickel Mining & Concentrates (IMAKAFAB)

akta.pro secondary industries

Exploration & Resource Development (Critical Minerals) (IMAKAFAL), Battery Raw Materials Mining & Refining (Lithium, Nickel, Cobalt, Manganese, Graphite) (EUAFABAA)

Keywords

• Nickel ore mining
• Laterite nickel extraction
• Saprolite ore supply
• Limonite ore production
• Ferronickel raw materials

Headquarters

HQ city

Tanjung

HQ country

Indonesia

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Nickel Ore Sales: PT Gag Nikel generates revenue through the extraction and sale of laterite nickel ore. Saprolite ore (high-grade) is sold to the Class 2 nickel market for ferronickel production used in stainless steel manufacturing. Limonite ore is directed to the Class 1 nickel market for the Electric Vehicle (EV) battery industry. Commercial production commenced in 2017 with ongoing nickel ore production and sales activities since 2018.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels4 records

Core offering

PT Gag Nikel operates a laterite nickel mining concession on Gag Island, Raja Ampat, Indonesia, extracting and selling two categories of nickel ore. Saprolite (high-grade) ore is supplied to the Class 2 nickel market for ferronickel production used in stainless steel, while limonite (lower-grade) ore is directed to the Class 1 nickel market for the electric vehicle battery industry. The company holds a 7th-generation Contract of Work and operates under state-owned MIND ID/Antam oversight.

Product overview

PT Gag Nikel operates as a nickel mining company on Gag Island, Indonesia, extracting and processing laterite nickel ore. The company's product portfolio consists of two primary ore types: Saprolite nickel ore (high-grade) used for Class 2 nickel market and ferronickel production for stainless steel, and Limonite nickel ore (lower-grade) supplied to Class 1 nickel market for EV batteries. The company does not offer a software platform or SaaS product—its offerings are physical mining products (nickel ores and ferronickel alloy) sold to industrial buyers in the stainless steel and EV battery supply chains.

Differentiator

Problem solved

Functional benefit

Products and services

• Saprolite Nickel Ore High-grade laterite nickel ore sold to the Class 2 nickel market and processed into ferronickel for stainless steel manufacturing. Targeted at industrial smelting companies and ferronickel producers.
• Limonite Nickel Ore Lower-grade laterite nickel ore supplied to the Class 1 nickel market as raw material for electric vehicle (EV) battery industry production. Targeted at EV battery cathode and Class 1 nickel material processors.
• Ferronickel High-strength ferroalloy combining iron and elemental nickel, produced from saprolite ore smelting and used as raw material in stainless steel manufacturing. Targeted at stainless steel producers and downstream industrial buyers.

Quantifiable outcome

• 807.80 hectares of land reclaimed and rehabilitated (138.25 hectares reclaimed land, 666.66 hectares rehabilitated watersheds, 2.95 hectares wetlands)
• +3 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core and minor.

• PT Aneka Tambang (Persero) Tbk (Antam)coreOthers · 1 January 1998PT Gag Nikel has been a subsidiary of PT Aneka Tambang (Antam) since 2008, when Antam acquired Asia Pacific Nickel's stake. Currently, PT Aneka Tambang holds 25% direct ownership in PT Gag Nikel. Antam is part of the State-Owned Mining Holding Company MIND ID. The company operates as part of Antam's nickel mining portfolio.
• Asia Pacific Nickel, Pty., Ltd (APN)minorOthers · 1 January 1998Historical shareholder (formerly BHP Asia Pacific Nickel Pty Ltd) that initially held 75% stake in PT Gag Nikel. In 2008, PT Aneka Tambang acquired APN's entire stake, making PT Gag Nikel fully under Antam's control.
• MIND ID (Mining Industry Indonesia)coreOthersState-Owned Mining Holding Company that includes PT Aneka Tambang (Antam) as a member. PT Gag Nikel, as a subsidiary of Antam, operates within the MIND ID Group for consolidated reporting, corporate governance, and uniform data protection standards.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Tsingshan Holding Group: Tsingshan is the world's largest stainless steel producer and a major player in Indonesian nickel through its IMIP and IWIP industrial parks. Comparable to Gag Nikel as a major player in Indonesian nickel mining and stainless steel/battery value chains, though integrated vertically into stainless steel production.
• BHP Group (Nickel West): BHP's Nickel West division in Western Australia was a major integrated nickel producer. Comparable to Gag Nikel as a major diversified mining company with nickel operations supplying Class 1 (battery) nickel, though operating at vastly larger global scale and across multiple commodities.

Others

• Huayou Cobalt: Huayou Cobalt is a major Chinese battery materials and nickel-cobalt producer with significant Indonesian operations including the Pomalaa HPAL project. Comparable to Gag Nikel as a downstream customer and adjacent participant in the Indonesian nickel-to-EV-battery supply chain.

Emerging players

• PT Ceria Nugraha Indotama: PT Ceria Nugraha Indotama is an Indonesian laterite nickel miner in Southeast Sulawesi developing Class 1 nickel capacity. Comparable to Gag Nikel as an emerging Indonesian nickel producer positioning into the EV battery supply chain.
• Pacific Nickel Mines (renamed Colossus Metals): Pacific Nickel Mines / Colossus Metals is an emerging Australian-listed nickel mining company with projects in the Asia-Pacific region focused on laterite nickel production. Comparable to Gag Nikel as a smaller-scale laterite nickel producer targeting similar end markets.
• Sherritt International Corporation: Sherritt International is a Canadian-based nickel and cobalt producer with operations in Cuba and is developing battery-grade nickel refining capacity. Comparable to Gag Nikel as a nickel producer with exposure to EV battery supply chains, though with laterite sulfide mix and Cuban asset base.

Direct peers

• PT Halmahera Persada Lygend: PT Halmahera Persada Lygend is an Indonesian nickel mining and HPAL processing joint venture on Halmahera Island producing nickel-cobalt intermediates for the EV battery supply chain. Directly comparable to Gag Nikel as an Indonesian laterite nickel producer serving the Class 1 / battery market.
• Eramet: Eramet is a global mining and metallurgy company with significant laterite nickel operations, including in Indonesia (Weda Bay). Directly comparable to Gag Nikel as a laterite nickel miner serving both stainless steel and EV battery supply chains, though at a much larger global scale.
• PT Vale Indonesia: PT Vale Indonesia is one of Indonesia's largest nickel mining producers, operating laterite nickel mines in Sulawesi. It is directly comparable to Gag Nikel as an Indonesian laterite nickel miner supplying to global stainless steel and battery markets, though operating at significantly larger scale.
• Nickel Asia Corporation: Nickel Asia is the Philippines' largest laterite nickel producer, operating four mines and a processing plant. It is directly comparable to Gag Nikel as a Southeast Asian laterite nickel miner producing saprolite and limonite ores for the stainless steel and Class 1 nickel markets.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/gagnikel
• Facebookfacebook.com/ptgagnikel

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Gag Nikel