Hanwha Investment & Securities said on the 7th that it completed advisory services for the acquisition of equity in an overseas nickel smelter.
The transaction involves Spear Corporation, which supplies special alloys to the U.S. SpaceX and other aerospace companies, acquiring 10% equity in Indonesia's ENC (Excelsior Nickel Cobalt) nickel smelting project for a total of $240 million. Hanwha Investment & Securities designed a structure to raise $210 million of that amount in connection with global investors.
The ENC nickel smelting project is a business based on a large-scale nickel smelter located in Indonesia. Hanwha Investment & Securities noted that this equity acquisition is a significant case in which a domestic corporation simultaneously secured a strategic equity investment in global critical minerals and a long-term off-take contract.
Hanwha Investment & Securities defined this not as a simple resource investment but as a strategic investment to strengthen the aerospace industry supply chain, and carried out acquisition advisory work by comprehensively considering not only financial feasibility but also ▲ the growth direction of Korea's aerospace industry ▲ stabilization of core material supplies ▲ a private sector–led strategy for securing global resources.
Kim Guk-seong, managing director of the investment banking division at Hanwha Investment & Securities, said, "This is a case that proves our capability to design strategic investments directly linked to the competitiveness of Korea's space industry," adding, "We will continue to strengthen our acquisition advisory role in global investments connected to national strategic industries."