ASIATODAY.ID, BALI – Indonesia through PT. Aneka Tambang, Tbk (ANTAM) together with Hongkong CBL Limited (CBL) established a collaboration through the Signing of the Divestment of the Electric Vehicle (EV) Battery Project on Thursday, 28 December 2023.
Indonesia’s Coordinating Minister for Maritime Affairs and Investment, Luhut Binsar Pandjaitan, stated that this is the first collaboration in the world that covers stages from nickel mining to giga factory cell and pack batteries, as well as recycling.
“Congratulations to Antam, CBL and IBC for their collaborative investment in the lithium battery ecosystem supply chain in Indonesia. This is the first in the world, covering stages from nickel mining to giga factory battery cells and packs, as well as recycling. “This answers the question regarding downstreaming, where there is still a lot that can be done here,” said Coordinating Minister Luhut, in Bali, Thursday, December 28 2023.
Luhut emphasized the importance of efficiency and speed of project work considering increasingly tight global competition. He also stated that project execution must remain compliant with high environmental and labor standards.
“We must be transparent with digitalization, and the execution of this project must become a standard example for similar projects in the future,” he added.
Luhut stated that it is very important to be open to criticism regarding environmental issues and committed to making improvements, including improving mechanisms and standard operating procedures (SOP). He also emphasized training local employees to keep up with high technology.
“We must pay attention to environmental standards and high-quality employment gradually. “Let’s build an agreement that the officials involved must be transparent, so that Indonesia can become an example of a developed and transparent country,” stressed Luhut.
Meanwhile, the Minister of Investment/Head of the Investment Coordinating Board, Bahlil Lahadalia, emphasized the same thing.
“Congratulations to the ANTAM and CBL teams. “Properly implement environmental standards, recruit workers, and try to minimize risks that could be detrimental,” said Bahlil.
This event was attended by various parties, including ANTAM President Director Nico Kanter, ANTAM Business Development Director I Dewa Wirantaya, CEO of Ningbo CBL Tang Honghui and Chairman of CBL Li Changdong.
$416.5 Million Transaction
Antam and Hong Kong CBL Limited (HKCBL) have successfully completed a series of transactions related to integrated nickel mineral downstreaming in Indonesia.
Of these several transactions, Antam and HKCBL were directly involved in share buying and selling transactions at Antam’s subsidiary, namely PT Sumberdaya Arindo (SDA) as well as share buying and selling transactions at Antam’s subsidiary, namely PT Feni Haltim (FHT).
Antam and HKCBL have also signed an agreement regarding the plan to establish a company for a hydrometallurgical project (HPAL JVCO) based on the HPAL JVCO joint venture agreement between Antam and HKCBL on December 22 2023.
In this transaction, Antam sold 49% of shares in PT Sumberdaya Arindo (SDA) to Hong Kong CBL Limited (HKCBL). Apart from that, Antam also released a 10% stake in FHT to HKCBL. In addition, PT International Mineral Capital (IMC), a subsidiary of ANTM, sold 50% of shares in FHT to HKCBL.
It was explained that the SDA divestment transaction value which would be paid in cash by HKCBL to Antam was $416.5 million. (AT Network)
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