GTS Share Acquisition, Harita Becomes The Largest Nickel Mining Company Number 5

Nickel (Photo: dock. Antara)

JAKARTA - PT Trimegah Bangun Persada Tbk (NCKL) or Harita Nickel announced that it has acquired 99 percent of PT Gane Tambang Sentosa (GTS) shares located on Obi Island, South Halmahera, North Maluku.

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

"PT GTS has a nickel mining concession that has not yet operated with an area of 2,314 hectares with an IUP validity period until 2040," the management wrote in a written statement to the media, Friday, December 1.

With this accuracy, the company plans to carry out drilling activities to find out the amount 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.

In addition to increasing the Company's nickel ore resources and reserves, the acquisition of IDR 48.8 billion is expected to strengthen the financial contribution to the Company.

At the end of November 2023, the Company had an estimated nickel ore reserve of around 302 million wmt.

By conducting further exploration of 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 Harita Nickel's subsidiary will increase.

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