Common Contracts
1 similar Heads of Agreement contracts
Silkroad Nickel signs heads of agreement for a joint venture to construct smelter facilities in Sulawesi, IndonesiaHeads of Agreement • September 18th, 2018
Singapore, 18 September 2018 – SGX-Catalist listed Silkroad Nickel Ltd. (“Silkroad Nickel” or the “Company”, and together with its subsidiaries, the “Group”), an Indonesian nickel mining group, is pleased to announce that its subsidiary, PT Teknik Alum Service (“PT TAS”), and PT Artabumi Sentra Industri1 (“PT ASI”, and together with PT TAS, the “Purchasers”) have, on 18 September 2018, entered into a non-binding heads of agreement (“Agreement”) with PT Anugrah Tambang Smelter (“PT ATSM” or the “Target”) for the acquisition of the entire equity interests of the Target by the Purchasers (“Proposed Acquisition”). Pursuant to the Agreement, the Purchasers intends to acquire the Target and, through the Target, build and operate smelter facilities for the production of nickel pig iron on the Group’s mine site in Sulawesi, Indonesia.
