Harum Energy (HRUM) Teams Up with Chinese Giant to Expand Nickel Operations

PT Harum Energy Tbk (HRUM), a prominent player in the energy sector, has entered into a strategic partnership with Eternal Tsingshan Group Limited (ET), a leading company in the industry, to bolster and diversify its nickel portfolio.

The collaboration entails the issuance of mandatory convertible debentures to ET, which will subsequently convert into potentially up to 49% ownership in HRUM’s valuable nickel assets. This mutually beneficial partnership is primarily aimed at optimizing operational efficiency, ensuring long-term project sustainability, strengthening the capital structure, and unlocking new avenues for business growth and development.

The alliance between HRUM and ET is poised to create synergies that will drive innovation and excellence in the mining and processing of nickel products. Moreover, it will facilitate the transfer of cutting-edge technology and valuable knowledge between the two entities, enabling them to capitalize on emerging opportunities in the global market. Importantly, HRUM has assured stakeholders that this strategic collaboration will not disrupt its existing operations or compromise the continuity of its business activities.

Source: https://www.indonesiaminer.com/news/detail/2024-04-22172527-harum-energy-hrum-teams-up-with-chinese-giant-to-expand-nickel-operations

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