On 21 September 2023, PT United Tractors Tbk (“the Company”), through its wholly owned subsidiary PT Danusa Tambang Nusantara (“DTN”), has completed its transaction with Nickel Industries Limited (“NIC”) to subscribe for 857 million new ordinary shares issued by NIC. The total value of the transaction is AUD$942.7 million.
NIC is a leading integrated nickel mining and processing company with its key assets located either within or in close proximity to the Indonesia Morowali Industrial Park (“IMIP”), Sulawesi and the Indonesia Weda Bay Industrial Park (“IWIP”), Halmahera. It has an 80% stake in PT Hengjaya Mineralindo (nickel mine) which is one of the largest suppliers of limonite and high-grade saprolite ore to the IMIP. NIC owns and operates majority stakes in twelve Rotary Kiln Electric Furnace (“RKEF”) lines.
Quoted from Half Year 2023 Reports disclosed by NIC, as of first semester of 2023, NIC had produced 59,957 tons of nickel metal which consisted of 49,792 tons of Nickel Pig Iron (NPI) and 10,165 tons of nickel matte from its smelter facility and had mined 5.2 million wet metric tons (wmt) of nickel ore which consisted of 1.4 million wmt of saprolite ore and 3.8 million wmt of limonite ore from Hengjaya nickel mine.
The Company’s strategic action in acquiring a 19.99% stake in NIC serves as one of important steps for the Company in its business diversification and expansion in mineral industry.
For further information, please contact the following:
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Corporate Secretary: Sara K. Loebis Email: ir@unitedtractors.com Address : Jl. Raya Bekasi Km.22 Cakung, Jakarta Timur 13910 Telp. : (62-21) 3511961, Fax : (62-21) 3441413 |