PT ITSS, the party responsible for the nickel smelter explosion, is majority-owned by a Chinese company.

PT Indonesia Tsingshan Stainless Steel (ITSS) is under scrutiny following an explosion at its nickel smelter that killed 19 workers and injured dozens more.

The explosion occurred at the PT Indonesia Morowali Industrial Park (IMIP) industrial area in Morowali Regency, Central Sulawesi, on Sunday, December 24, 2023, at approximately 6:15 AM WITA.

PT ITSS is a legally registered company engaged in metal mineral processing and stainless steel production.

According to the Indonesian Ministry of Energy and Mineral Resources' Minerba One Data Indonesia (MODI) website, the company is majority-owned by Chinese entities.

At least four shareholders are from China. The largest shareholder is the parent company, Tsingshan Holding Group Company Limited, with a 50% stake.

Ruipu Technology Group Company Limited holds 20%, while Tsingtuo Group Co. Ltd. and Hanwa Company Limited each hold 10%.

PT IMIP is the sole Indonesian shareholder, holding a 10% stake.

Investment exploration has long been undertaken by the parent company, Tsingshan Group. According to the Ministry of Industry's website in 2018, this Chinese metal processing giant, along with Bintang Delapan, invested US$6 billion in Morowali. Targeted production includes stainless steel, nickel pig iron, and carbon steel.

The following is a breakdown of PT ITSS shareholders as of Thursday, December 28, 2023:

* Tsingshan Holding Group Company 50%
* Ruipu Technology Group Company Limited 20%
* Tsingtuo Group Co. Ltd. 10%
* Hanwa Company Limited 10%
* PT Indonesia Morowali Industrial Park 10%

The following are the members of PT ITSS's board of directors:

1. Wu Huadi, President Director
2. Hamid Mina, Director
3. Zhang Fan, Director
4. Lin Jiqun, Director
5. Zhao Fanfan, Director
6. Xiang Binghe, President Commissioner
7. Xiaoxia Yang, Commissioner
8. Wang Renhui, Commissioner
9. Zhang Qiguang, Commissioner

(Also read: Nickel Smelter Explosion at PT ITSS Morowali Kills 19 Workers)