Base Metals
Indonesian miner Harita Nickel rises on trading debut
Through the IPO, Trimegah Bangun Persada has raised Rp10tn ($672m).
The post Indonesian miner Harita Nickel rises on trading debut appeared first on Mining…
Indonesia-based nickel mining company Trimegah Bangun Persada (NCKL), also known as Harita Nickel, has risen on its debut on the Indonesia Stock Exchange.
Shares in the firm climbed more than 4% to Rp1,305 on its debut, according to news agencies.
The miner recently earned Rp10tn ($672m) in Indonesia’s biggest IPO of the year, selling around eight billion of its shares at Rp1,250 per share.
Taking place between 5 and 10 April, the IPO is claimed to have been received positively by the market. The company’s shares were oversubscribed.
NCKL president director Roy A Arfandy said: “We appreciate and thank investors for their high enthusiasm towards the NCKL IPO. The oversubscription is a clear indication of the trust that investors have placed in the bright prospects of the nickel processing industry that is being managed by our company.”
NCKL and its subsidiaries operate two laterite nickel mining projects on Obi Island in North Maluku province.
The two projects cover 5,524 hectares of area. Operated by the company, the first project is spread across 4,247 hectares in Kawasi.
The second project is located in Loji and covers 1,277 hectares. It is operated by NCKL subsidiary Gane Permai Sentosa.
The company has also completed three high-pressure acid leach (HPAL) refinery production lines.
Its total annual production capacity is 55,000 metal tons per year. It also has plans to start nickel sulphate production this month.
The post Indonesian miner Harita Nickel rises on trading debut appeared first on Mining Technology.
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