Aumay Mining Pte Ltd reportedly has a claim over 22.5% of shares of PT Kalimantan Aluminium Indonesia (KAI), a subsidiary of PT Adaro Minerals Indonesia Tbk (ADMR). The ownership purchase takes effect following KAI’s decision to issue 925,748 shares earlier this week (20/12).

Heru Gunawan, Corporate Secretary of ADMR, claimed that the proceds from those shares issuance will be utilised to advance KAI’s business. “The total value of issued shares clocks up to IDR 925.74 billion or approximately USD 59.65 million,” he said in the information disclosure quoted Friday (23/12).

From said number, Aumay acquires 595,124 shares worth IDR 595.12 billion, or 22.5% of KAI’s entire issued and paid-up capital. Then, another 12.5% are claimed by PT Cita Mineral Investindo Tbk (CITA), as mentioned earlier in IDNFinancials.

KAI is now building and maintaining an aluminium smelting facility with a capacity of 2 metric tons per annum (MTPA) in Kalimantan Industrial Park Indonesia, Bulungan, North Kalimantan.

Aumay is an exempt private company based in Gateway West, Singapore. (LK/ZH)

Image source: OIP

Source: https://www.idnfinancials.com/news/45512/aumay-mining-claim-kalimantan-aluminium