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Leading Indonesian law firm Hiswara Bunjamin & Tandjung has advised one of the country’s top coal miners on its ongoing expansion into nickel mining.
The transaction saw PT Tanito Harum Nickel, a subsidiary of PT Harum Energy Tbk, acquire a majority stake in PT Position, owned by Aquila Nickel Pte Ltd.
This is just the latest nickel mining acquisition by Harum Energy, as the company looks to expand and diversify from its traditional coal mining business.
“Nickel demand is expected to grow, particularly for electric vehicle batteries,” said partner Tjahjadi Bunjamin who led the team advising Harum Energy.
“Indonesia holds the world’s largest reserves of the metal, and we expect further investment activity in the year ahead as the shift to sustainable energy and transport grows.”
Tjahjadi was assisted by senior associate Renny Soependi and associate Yurico Mandali on due diligence and transaction documents, and by associate Ivina Louviani Suwana on capital market aspects of the transaction.
Prolegis advised on Singapore law while Herbert Smith Freehills’s London office advised on Swiss law aspects of the transaction.