A Chinese metals magnate who reshaped Indonesia's nickel industry is now courting global commodity giants for his next venture. Liu Zhongtian, the billionaire behind China Zhongwang Holdings, is negotiating with Mercuria Energy Group, Glencore Plc, and Trafigura Group to secure investments in a massive $3 billion aluminum smelter project.

This move marks a significant expansion from Liu's previous success in nickel, where he leveraged Indonesia's vast resources to build a processing empire. The aluminum project represents a strategic pivot into a new metal market, potentially disrupting global supply chains. Industry sources indicate the talks are at an advanced stage, with the three trading houses evaluating substantial equity stakes in the venture.

The proposed smelter could reshape aluminum trade flows, particularly given Indonesia's growing importance in the global metals market. With aluminum prices remaining volatile and demand surging from the automotive and construction sectors, Liu's project arrives at a critical juncture. The involvement of top-tier commodity traders suggests confidence in the project's viability and potential returns.