By Romel S. Gurky
Coal miner PT Indo Tambangraya Megah Tbk (IDX: ITMG) reported on Tuesday that it has acquired a 9.62% stake nickel mining firm PT Adhi Kartiko Pratama Tbk (IDX: NICE).
ITMG is majority-owned by Thai firm Banpu Minerals (Singapore). NICE, which focuses on nickel ore exploration through its laterite nickel project in Southeast Sulawesi, made its debut on the stock exchange on January 9, 2024. NICE operates a mining concession area spanning 1,975 hectares in North Konawe, Southeast Sulawesi.
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As of the latest data, ITMG holds 585 million shares in NICE, equivalent to a 9.62% ownership stake. It joins other significant shareholders, including Energy Battery Indonesia, which holds 69.57%, and Sungai Mas Minerals with a 10.43% stake.
In its latest financial report for Q1 2025, ITMG showed a 2% year-to-date increase in total assets, with a strong cash balance of USD 1 billion. The company continues to diversify its portfolio towards renewable energy and enhance its operations to align with its green energy transformation goals.
This investment in NICE is part of ITMG's broader strategy to expand its energy-related business and secure a foothold in the growing nickel sector, which is essential for the global transition to cleaner energy sources.
Editing by Alexander Ginting
