In line with the government program in developing ev batteries for electric vehicles in Indonesia, the presence of nickel mining companies is considered to benefit a lot in the long run.

PT Aneka Tambang Tbk (Antam) as one of the largest nickel producers in Indonesia is also currently focusing on the ev battery project.

Antam Corporate Secretary Syarif Faisal Alkadri said the ev battery project is the focus of the project being carried out.

“We are focusing on the downstreaming of all the company's commodities, where in the nickel sector one of them is the completion of the ev battery project both upstream and downstream,” he said.

Faisal said Antam had completed various stages in the development of ev batteries.

“Currently, all work on this project is running in accordance with the timeline prepared. We are committed to completing the milestones that have been planned to be completed this year,” he added.

Previously on December 28, 2023, Antam together with HongKong CBL Limited (HKCBL) completed the divestment transaction of 49% shares in PT Sumberdaya Arindo (SDA) and the divestment transaction of 60% shares in PT Feni Haltim (FHT) with a total cash consideration of IDR 7.23 trillion.

“This transaction is an important part of the operation of the nickel mine to supply nickel ore and the development of industrial estates, as well as the construction and operation of nickel processing and refining plants,” Faisal was quoted as saying in Antam's press release.

Antam and HKCBL have also signed a joint venture agreement for the hydrometallurgical project (HPAL JVCO) on December 22, 2023. Faisal said the transaction would be an important foundation for the development of the EV Battery ecosystem in Indonesia.

“For the establishment of HPAL JVCO, ANTAM and HKCBL also continue to coordinate so that the process of establishing HPAL JVCO can be carried out in 2025,” he concluded.