The world’s biggest EV battery company acquired Aneka Tambang’s shares

Transaction

Aneka Tambang has sold its share to the China’s Contemporary Amperex Technology Co. The transaction which involved two of Aneka Tambang’s subsidiaries was worth $467.18 million.

In the official statement which was published on 28.12.2023, Aneka Tambang announced that it made the sales to Ningbo Contemporary Brunp Lygend through the latter’s Hong Kong unit. The result of the transition is that Ningbo Contemporary Brunp Lygend Co Ltd (CBL) controls 49% of PT Sumberdaya Arindo and 60% of PT Feni Haltim.

New nickel value chain

According to the official statement: “During the ten-year strategic planning period until 2030, CBL will be committed to the resource development in the whole industry chain of new energy batteries, mine investment, construction and operation of smelting, battery manufacturing, and other related projects.” Moreover, the investment involves building a high-pressure acid-leaching plant to process nickel ore into materials used in batteries.

Indonesia as the home of the world’s largest nickel reserves has set a goal of producing some 600,000 EVs by 2030.

China’s Neta EV brand, Japan’s Mitsubishi Motors and South Korea’s Hyundai Motors have already invested in Indonesia’s EV battery industry. The country is also tempting Tesla and BYD.