Increasing Nickel Ore Production, NCKL Acquires Shares in PT Gane Tambang Sentosa

Photo: (Doc. Harita Nickel)

JAKARTA – PT Trimegah Bangun Persada Tbk or Harita Nickel (NCKL) acquired 99 percent of the shares in PT Gane Tambang Sentosa (GTS) which is located on Obi Island, South Halmahera, North Maluku.

Meanwhile, NCKL's acquisition of GTS with a transaction value of IDR 7.9 billion will increase nickel ore resources and reserves to 302 million wmt, making Harita Nickel the 5th largest nickel mining company in Indonesia based on resources.

PT GTS has a nickel mining concession that is not yet operational with an area of ​​2,314 hectares with an IUP valid until 2040.

The company plans to carry out drilling activities to determine the size of nickel ore reserves and resources.

At the same time, Harita Nickel also increased its share ownership in PT Gane Permai Sentosa (GPS) from 70 percent to 99 percent. Apart from being able to increase the Company's nickel ore resources and reserves, this acquisition worth IDR 48.8 billion is expected to strengthen the financial contribution to the Company.

At the end of November 2023, the Company has estimated nickel ore reserves of around 302 million wmt.

By carrying out further exploration at the 4 mines owned, namely PT Obi Anugerah Mineral, PT Jikodolong Mega Pertiwi, PT Karya Tambang Sentosa, and PT Gane Tambang Sentosa, the nickel ore reserves needed by the Harita Nickel subsidiary will increase.

PT GTS and PT GPS are affiliated companies of Harita Nickel. The acquisition transaction has been carried out transparently in accordance with the assessment of the appointed independent institution from KJPP.

For information, NCKL is an integrated nickel mining and downstream company that has upstream and downstream capabilities on Obi Island, South Halmahera, North Maluku.

In the third quarter of 2023, NCKL posted sales of IDR 17.3 trillion, an increase of 135 percent compared to the third quarter of 2022 of IDR 7.4 trillion.

Apart from that, the Company was also able to record an increase in net profit for owners of the parent entity of 24 percent to IDR 4.5 trillion from IDR 3.6 trillion in the previous period.