State miner Aneka Tambang (ANTM) or Antam is getting closer to establish some joint ventures with two of the world’s largest EV battery producers to process nickel ores into nickel-cobalt sulphate. This can be seen in the spin-off of nickel business to PT Nusa Karya Arindo (NKA) and PT Sumberdaya Arindo (SDA), both based in South Jakarta. Antam has signed deed of spin-off of said partial assets and liabilities to NKA and SDA on 30 September 2022.
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