11
May
09:49
Merdeka Battery Materials buys 60% stake in Huaneng Metal Industry
Merdeka Battery Materials, a nickel unit of Indonesian miner Merdeka Copper Gold, will acquire a 60% interest in PT Huaneng Metal Industry (HNMI) -- a high-grade nickel matte (HGNM) conversion facility, Kallanish notes.
The total consideration for the proposed acquisition at Indonesia’s Morowali Industrial Park (IMIP) is of approximately $75 million. The deal is expected to be complete in mid-2023.
The conditional acquisition agreement will allow Merdeka B…
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