Common Contracts

Silkroad Nickel signs heads of agreement for a joint venture to construct smelter facilities in Sulawesi, Indonesia

September 18th, 2018

• Filed
  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.