Home / Directory / List News / Detail News

Harum Energy Acquires 20% Shares of Smelter

www.tambang.co.id

Mon 09 May 2022, 14:02 PM

Share

Events

One of the mining companies, PT Harum Energy, Tbk (HRUM) through its subsidiary, namely PT Harum Nickel Industry (HNI) has acquired 250,000 new shares of PT Westrong Metal Industry (WMI). This amount represents 20% of the total issued and paid-up capital of WMI with a purchase price of US$ 75 million on 27 April 2022.

HRUM President Director Ray A Gunara explained, WMI is a limited liability company engaged in nickel refining (smelter). "WMI's smelter using  rotary klin electric furnace  (RKEF) technology is planned to be built this year along with the infrastructure in the Weda Bay Industrial Area (Indonesia Weda Bay Industrial Park) in Central Halmahera Regency," Ray explained in a Disclosure of Information to the Exchange. Indonesian Securities (IDX) on Monday (9/5).

It also explained that its annual production capacity is targeted to be between 44,000-56,000 tons of nickel in the form of  ferronickel / nickel pig iron . "The purpose of the transaction carried out by the company is to further develop and expand the company's business activities into the nickel industry, which is the realization of the company's long-term business diversification strategy," said Ray A Gunara.

It was emphasized in the information disclosure that there was no material impact on the taking of the shares on the operational, legal, financial condition or continuity of the company's operations.

Advertisement

Relate News

News
31 Jul 2023, 12:00 PM

MMS Group Indonesia Appoints China ENFI as Mitra Murni Perkasa Nickel Smelter Project Contractor in ...

ENFI
5033 Views
News
28 Sep 2022, 09:00 AM

Coordinating Ministry for Maritime and Investments Affairs Highlights the Importance of Life Cycle A...

www.tribunnews.com
3765 Views
News
23 Aug 2023, 08:00 AM

Limited Production Volume in China Makes Coal Price Strengthen

Dominik Vanyi/Unspalsh
3738 Views
News
02 Oct 2024, 17:32 PM

PT Bukit Asam Recognized with 5 Awards by the Ministry of Energy and Mineral Resources

PT Bukit Asam
2143 Views
Hello! We would like to talk to you.Please fill the details below to start chatting with us.