Harum Energy (HRUM) invested USD 500 million. The tactical funds were transferred by the subsidiary Tanito Harum Nickel (THN) to Blue Sparking Energy (BSE). Later, the loan facility will be used to speed up the high pressure acid leaching project.

The project is designed to produce nickel-cobalt hydroxide intermediate product (MHP - Mixed Hydroxide Precipitate) with an annual installed capacity of around 67 thousand tons of nickel equivalent, and around 7,500 tons of cobalt, including facilities and supporting infrastructure. 

Apart from that, these funds will also be used to refinance debt and for general company purposes. Loan withdrawals can be made more than once with interest secured overnight funding rate (SOFR) plus 2.60 percent per year. This counts from every loan disbursement until the principal amount is paid in full.

The loan can be returned by BSE at any time before maturity, or in full on the maturity date. Where, it matures on the 60th of the month since the loan agreement was signed. Loans can be repaid in cash or, at Tanito Nickel's discretion, converted into shares in BSE on mutually agreed terms. 

This transaction is based on the company's aim to achieve sustainable business growth. One of them is diversifying the business through expansion into mining and nickel processing businesses. Transactions are also a form of implementing expansion to create sustainable business growth. BSE is currently in the construction phase of the high-pressure acid leaching project which requires development costs. 

This transaction will not only expand the company's nickel product diversification, but also provide opportunities for the company in the battery raw material market. "Providing loans to finance the development and construction of BSE's high-pressure acid leaching project, and debt refinancing," said Ray Gunara, Approver for Harum Energy.

Image source: www.emitennews.com

Source: www.emitennews.com/Produksi 67 Ribu Ton Nikel Harum Energy HRUM Suntik Modal BSE USD 500 Juta