Caplok 30 Percent Shares Of Tsingshang Subsidiary, Antam Continue Downstream

JAKARTA - PT Aneka Tambang Tbk (ANTM) announced a strategic partnership that will be carried out throughout 2024. One of them is an acquisition activity by Antam subsidiary PT Gag Nikel for 30 percent of PT Jiu Long Metal Industry (JLMI) shares. It is known that JLMI is a subsidiary of the Eternal Tsingshang Group.

"In October, we with Tsingshang Group signed a sareholder agreement where we will be included in the downstream commitment," said Antam President Director Niko Kanter at a press conference at Hotel Indonesia Kempinski, Wednesday, November 13.

Just so you know, 100 percent of PT Gag Nickel's shares are owned by Antam and are located in Weda, North Maluku.

Meanwhile, the product produced by PT JLMI is nickel pig iron with a production capacity of 28 kilo tons per year (ktpa).

Niko said the transaction value of this acquisition amounted to US $ 102.5 million with an estimated $ 12,000 per tonne of nickel. The agreements made are preparation and supply of nickel ore.

Through this collaboration, Tsingshang will get a supply of nickel ore, while Antam can run a downstream program from the government.

"PT Gag Nickel, there is a commitment to a work contract for a certain year and time, there must be downstreaming," said Niko.