Indonesian coal miner Harum Energy buys stake in nickel plant

  • Tuesday, April 2, 2024
  • Source:ferro-alloys.com

  • Keywords:nickel, ore, steel, ferronickel, electrolytic nickel, refined nickel
[Fellow]PT Harum Energy has bought a controlling stake in a nickel processing plant, part of a trend of Indonesian coal miners moving into metals vital to the energy transition.

[Ferro-Alloys.com] 

Indonesian coal miner Harum Energy buys stake in nickel plant

PT Harum Energy has bought a controlling stake in a nickel processing plant, part of a trend of Indonesian coal miners moving into metals vital to the energy transition.
 
The miner acquired 51% of PT Blue Sparking Energy by converting part of a loan to the company into equity, according to a stock exchange filing. The nickel refiner issued new shares worth around $206 million for the swap.
 
Blue Sparking is developing a high pressure acid leach plant at an industrial park in Weda Bay in North Maluku province, which makes a lower carbon form of nickel coveted by electric vehicle manufacturers.
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