ASIATODAY.ID, JAKARTA – PT Aneka Tambang Tbk (Antam) through its subsidiary, PT Gag Nickel, is carrying out a significant strategic corporate action by acquiring part of the share ownership of Tsingshan Group’s subsidiary, Newton Internasional Investment Pte. Ltd.
This step marks Antam’s strategic effort to strengthen its position in the global nickel industry.
Antam’s Managing Director, Nicolas D. Kanter, confirmed this.
“Antam plans to acquire ownership of the nickel processing smelter owned by the Tsingshan Group,” said Nicolas in an online public presentation held on Tuesday, August 27 2024.
PT Gag Nickel, which operates as an exploration company and nickel mine operator on Gag Island, Raja Ampat, West Papua, has signed a Conditional Shareholders Agreement (CSPA) with Newton International Investment on May 3 2024.
This step marks the beginning of an acquisition process aimed at to acquire partial share ownership in a nickel ore processing factory or smelter.
Historically, the majority share ownership of PT Gag Nickel was previously controlled by Asia Pacific Nickel Pty. Ltd by 75%, while Antam only owns 25%. However, in 2008, Antam succeeded in acquiring all shares in Asia Pacific Nickel Pty. Ltd, so that PT Gag Nickel is completely under Antam’s control. Newton International Investment Pte. Ltd, a subsidiary of Tsingshan Group, is an entity focused on the stainless steel and nickel industries in China.
With this corporate action, Antam is expected to strengthen its position in the global nickel value chain, especially in the context of increasing demand for nickel as the main raw material for the electric vehicle battery industry.
Apart from this corporate action, Antam is also involved in a project to develop the electric vehicle (EV) battery ecosystem. This project involves strategic partnerships with Indonesia Battery Corporation and several international partners, such as the CBL Consortium (Contemporary Amperex Technology Co. Limited or CATL, Brunp, Lygend), as well as Hong Kong CBL Ltd. (HKCBL) which is a subsidiary of CATL.
One of these development projects is located in Buli, East Halmahera, North Maluku, which has now entered the feasibility study finalization stage in July 2024.
With these steps, Antam not only strengthens its position as a major player in the nickel industry, but also strengthens its role in the development of EV battery technology, which will be an important pillar in the global energy transition in the future. (AT Network)
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