Nickel Business Expansion, KKGI Purchases 2 Mining Companies Shares

Mining issuer PT Resource Alam Indonesia Tbk (KKGI) has signed a Deed of Agreement to purchase 70 percent of the shares of PT Buton Mineral Indonesia (BMI) and PT Bira Mineral Nusantara (BMN) on January 15, 2021.

Based on the company’s written statement on Monday (18/1/2021), KKGI Director Agoes Soegiarto said that the purchase transaction value was IDR 175 million at the nominal share price (BMI) and IDR 175 million at (BMN).

The transaction to buy and sell shares of the company is not an affiliated transaction and is not a material transaction.At this time it has not had an impact on KKGI’s operational, legal, financial or business sustainability activities.

“The transaction is in the context of exploring / expanding the nickel business,” said Agoes.

Just to note, at the end of trading, KKGI’s shares were at the level of IDR304 or decreased 0.65 percent at the end of the second session when the closing bell