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Harita Nickel (NCKL) Acquires New Mine, Increases Nickel Reserves

NCKL

Wed 06 Dec 2023, 12:00 PM

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Harita Group nickel issuer PT Trimegah Bangun Persada Tbk. (NCKL) acquired PT Gane Tambang Sentosa with a transaction value of IDR 7.9 billion. This action will increase the company's nickel reserves.

Harita Nickel management said that the acquisition of 99% shares in PT Gane Tambang Sentosa which is located on Obi Island, South Halmahera, North Maluku will increase nickel ore reserves to 302 million wmt.

"[This addition] will make Harita Nickel the 5th largest nickel mining company in Indonesia based on resources," said management in an official statement, quoted Thursday (30/11/2023). 

PT GTS has a non-operating nickel mining concession with an area of ​​2,314 hectares with an IUP valid until 2040. NCKL plans to carry out drilling activities to determine the size of nickel ore reserves and resources.

At the same time, Harita Nickel also increased its share ownership in PT Gane Permai Sentosa (GPS) from 70% to 99%. Apart from increasing nickel ore resources and reserves , the acquisition worth IDR 48.8 billion is expected to strengthen the financial contribution to NCKL.

At the end of November 2023, NCKL has estimated nickel ore reserves of around 302 million wmt. By carrying out further exploration at the 4 mines owned, namely PT Obi Anugerah Mineral, PT Jikodolong Mega Pertiwi, PT Karya Tambang Sentosa, and PT Gane Tambang Sentosa, the nickel ore reserves needed by the Harita Nickel subsidiary will increase. 

PT GTS and PT GPS are affiliated companies of Harita Nickel. The acquisition transaction has been carried out transparently in accordance with the assessment of the appointed independent institution from KJPP.

As is known, NCKL itself has a Mining Business Permit (IUP) area of ​​around 9,000 hectares, consisting of four mining concessions. Currently, there are two mines that are already operating, and two other mines will be operated to support the supply of nickel ore raw materials in the future. 

Apart from that, Harita Nickel will also continue to strive to increase mine life and nickel ore reserves by acquiring other mining concessions and collaborating with other local mining companies.

Image source: NCKL

Source: www.market.bisnis.com/Harita Nickel (NCKL) Akuisisi Tambang Baru, Cadangan Nikel Bertambah

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