AcroMeta unit receives undertaking linked to potential Indonesian nickel entry

The proposed transaction aligns with its strategy to participate in the nickel value chain.

AcroMeta Group Limited said its subsidiary has received an undertaking related to a potential entry into Indonesia’s nickel sector.

The company said its wholly owned subsidiary, AcroMeta Minerals Pte. Ltd., received a deed of undertaking from Ms. Elisabet, the majority shareholder of PT Esa Jaya Labdagati (EJL), following earlier disclosures on the Group’s plans in the nickel space.

Under the deed, AcroMeta Minerals has the option to acquire a 51% interest in CV Hastora Raya, which holds a nickel mining concession in Morawali, Central Sulawesi. 

If the option is exercised, the parties would jointly develop the mine in accordance with Indonesian laws and regulatory requirements.

The company said AcroMeta Minerals will not carry out trading activities directly, and that operations will continue to be conducted through EJL to comply with local regulations.

AcroMeta said the proposed transaction aligns with its strategy to participate in the nickel value chain, where demand is supported by stainless steel production and energy transition-related applications.

The company added that the transaction is not expected to have a material impact on its earnings per share or net tangible assets for the current financial year.

AcroMeta also advised shareholders to exercise caution when dealing in the company’s securities as discussions and developments remain ongoing.