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Antam sells stake in Halmahera industrial park operator to CATL unit
Antam said the transaction would accelerate the development of the national EV battery industry in the area.
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A worker is busy at the Pomalaa nickel smelter in Kolaka, Southeast Sulawesi, which is operated by state-owned metal miner PT Aneka Tambang (Antam). (Antam/Antam)
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T Aneka Tambang (Antam) and its subsidiary PT International Mineral Capital (IMC) have signed a conditional share purchase agreement to sell some of their shares in PT Feni Haltim (FHT) to Hong Kong CBL Limited, a subsidiary of Ningbo Contemporary Brunp Lygend (CBL).
The value of the transaction was not disclosed.
FHT is an Antam subsidiary that has permission to manage the industrial park in East Halmahera, North Maluku.
In a statement issued on Monday, Antam explained that the transaction would accelerate the development of the national electric vehicle (EV) battery industry in the area, specifically by adding value to the firm's nickel saprolite and limonite ore production businesses.
After the deal, the Halmahera industrial park would be developed to become an integrated EV battery ecosystem. The operator would also develop four lines of nickel smelters with rotary kiln electric furnace (RKEF) technology, as well as seaports and other supporting infrastructure.
Antam and CBL's subsidiary also signed a shareholders’ agreement that will become effective once the former's ownership in FHT is partially transferred. At that time, FHT's financial statements will no longer be consolidated into Antam's financial reports.
CBL is a subsidiary of Chinese EV battery company Contemporary Amperex Technology Co. Ltd (CATL), which has experience in developing and managing nickel-based industrial parks, according to the statement.
