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PT Trimegah Bangun Persada Tbk (ticker NCKL, "Harita Nickel," part of the Indonesian Harita Group) is a vertically integrated nickel miner and processor on Obi Island, North Maluku, Indonesia, operating since 2010.
Named counterparties identified by open-source research and written only where a primary source states the relationship — never inferred from sector or co-mention. 4 customer-side. This is a partial view: it covers the relationships we could evidence, not the company's full supply base.
TBP's IPO prospectus (p.252, customer section for the HPAL Project's nickel-cobalt compound): customers are China NEV-industry smelting/refining and ternary battery-material producers including GEM China, CNGR Advanced Material and Huayou Cobalt; separately (p.879, Indonesian original) 'HPL juga telah mengadakan perjanjian offtake jangka panjang dengan dua pelanggannya, termasuk GEM Co., Ltd.' (HPL, TBP's HPAL JV, has also entered into long-term offtake agreements with two of its customers, including GEM Co., Ltd.) No tonnage or share-of-sales percentage disclosed in the passages reviewed.
Same prospectus passage (p.252): customers of the nickel-cobalt compound (MHP) produced by TBP's HPAL Project 'primarily include smelting/refining companies and ternary battery-material producers in China's NEV industry, such as GEM China, CNGR Advanced Material Co., Ltd., and Huayou Cobalt.' No tonnage or share-of-sales percentage disclosed.
TBP interim financial statements 30 June 2025, revenue note (customers above 10% of revenue from contracts with customers): Lygend Resources & Technology Co., Ltd., Tiongkok/China IDR 7,477,236m = 53.05% of revenue in H1 2025 (IDR 6,804,426m = 53.14% in H1 2024); trade receivable from the same China-domiciled entity IDR 222,714m at 30 June 2025. Origin = TBP nickel processing (RKEF ferronickel) and mining on Obi Island, North Maluku, Indonesia; the note states export sales are paid on delivery of shipping documents. Destination = China: Lygend reports ~85% of its FY2025 revenue by shipment destination as Chinese mainland and supplies ferronickel to Chinese stainless mills (Lygend FY2025 results). Lygend is a nickel producer-trader that on-sells part of this tonnage.
Same revenue note: Glencore International AG, Switzerland IDR 2,153,715m = 15.28% of TBP revenue in H1 2025 (12.23% in H1 2024). Origin = Obi Island, Indonesia. Glencore is a trader, and the filing does not state where the product was delivered, so the destination is left open.
Scope. Absence of a counterparty here is not evidence that none exists — most commercial sourcing is confidential and never becomes public. Rows without a share figure mean no share was disclosed, not that the relationship is small.
This company sits on the supply side for 2 of its 2 materials — a restriction on those is a tailwind, not a headwind.
As a producer, policy pressure across its produced materials is coverage-limited.
Descriptive trend in official policy actions on this company’s materials — a policy-pressure trend, not a price or trading signal. No forward probability is implied. Direction is measured on actions we have discovered, and discovery lags events: where the recent window is too thin to support a calm reading, the row says coverage-limited instead of easing.
No actions in the register have named or swept this company in the last 24 months.