PT Aneka Tambang (Antam) is working with its subsidiary, PT International Mineral Capital (PT IMC), and Hong Kong CBL Limited (HKCBL) to establish an industrial park area in Indonesia, as part of the Electric Vehicle Battery Project development.
According to Antam, the conditional share purchase agreement includes partial ownership in PT Feni Haltim (PT FHT), which will enable the development and operations in the industrial park, as well as the expansion and construction of other infrastructure designed to support the implementation of the EV battery ecosystem development project in Halmahera.
Antam added that the agreement is expected to accelerate the national EV battery development’s effectiveness, especially in the creation of its nickel saprolite and limonite ore.
Following the completion of the transaction, Antam, PT IMC and HKCBL will sign the shares sales and purchase agreement, after which PT FHT will no longer be consolidated to Antam’s financial statements as a subsidiary entry.
The cooperation between Antam and HKBCL is part of the follow-up implementation of the previous framework agreement between Antam, PT Industri Baterai Indonesia and CBL for cooperation in the integrated EV battery ecosystem in Indonesia, which covers nickel ore mining activities for the battery recycling industry.
