Antam spins off nickel mining business to maximize profits

August 16, 2022

Latest company news about Antam spins off nickel mining business to maximize profits

PT Aneka Tambang Tbk (Antam) has strengthened the spin-off of some nickel business units in North Maluku East Halmahera by separating IUP into subsidiaries PT Sumberdaya Arindo (SDA) and PT Nusa Karya Arindo (NKA). Nickel segment.

 

 

Dolok Robert Silaban, director of business development at Antam, said SDA and NKA are 100%-owned directly or indirectly controlled subsidiaries of Antam and have a business unit in the mining industry. The spin-off activity is in line with Antam's efforts to improve the performance of the company's nickel business to prepare for a more optimized business development, especially as it prepares to accept potential strategic investors.

 

From the effective date, Dolok said, some nickel, NKA and SDA business units will spin off nickel mining activities in North Maluku.

 

Not only that, but in line with Antam's efforts to develop and manage more optimized assets to improve the performance of the nickel segment, it is hoped that it can develop its business in an agile, focused and competitive manner to support the development of Antam's nickel business, including the launch of EV batteries Development of industrial ecosystems.

 

Antam is optimistic that the EV battery development program will maximize the utilization of the currently under-utilized limonite, which will be processed at the HPAL plant. Limonite processed through high pressure acid leaching (HPAL) systems produces nickel hydroxide (MHP)-based products commonly used to make materials including nickel mineral-based battery components, one of which is electric vehicle batteries.

 

Antam has very large and high-quality nickel reserves and resources, with 381.91 million wet tons of nickel ore reserves and 1,408.72 million wet tons of resources in 2021, making Antam one of the largest nickel commodity management companies in Indonesia.

 

Seeing the huge potential of nickel commodities, in line with Antam's commitment to downstream, the company is selectively exploring various collaborations with potential strategic partners to maximize the added value of nickel commodities through various downstream projects. To support the government's commitment to achieving green energy, Antam independently participates in battery chain development projects, especially EV batteries, either by being part of the Holding IBC or through various exploratory collaborations with strategic partners.

 

The spin-off plan of some nickel business segments to be implemented by the company is also the first step to support the electric vehicle battery project. It is hoped that the spin-off of some nickel businesses will help speed up the company's business development.