The coal mining company, PT Harum Energy Tbk (HRUM), has officially acquired a 51% stake in Nickel International Capital Pte Ltd (NICAP), a Singapore-based company, for USD 42.06 million or approximately IDR 640.2 billion (based on the current exchange rate).

In a disclosure of information quoted on Wednesday (October 2, 2024), the acquisition was made by purchasing new shares of NICAP on September 26, 2024.

"The company has taken over a 51% stake in the capital of NICAP," said HRUM President Director Roy A. Gunara.

NICAP holds a 49% share in PT Position, an Indonesian nickel mining company located in East Halmahera, North Maluku, which is also a business entity of HRUM. The company has a concession area of 4,017 hectares.

Roy assured that the corporate action will not affect the company’s operations, legal standing, financial condition, or business continuity.