ANTM – Prepares 2 subsidiaries to work on EV battery project

ANTM – Prepares 2 subsidiaries to work on EV battery project The two subsidiaries of Aneka Tambang (ANTM) are Sumberdaya Arindo (SDA) and Nusa Karya Arindo (NKA). The two subsidiaries have sufficient nickel reserves to be able to support the EV battery industry ecosystem. Currently, ANTM is in the process of netiating with Ningbo Contemporary Brunp Lygend (CBL) and LG Energy Solution (LGES). When the netiation process is complete with the value chain derivative, ANTM through Indonesia Battery Corporation (IBC) will continue downstream. The netiation process has been included in the discussion per article. ANTM expects the deal to be completed by 2Q23 and begin mine development by the end of 2023 (Source : Investor Daily)