As part of a strategy to establish a strategic portfolio of mining assets in Indonesia to provide security of supply and feedstock to a future processing plant of intermediate metal salts used in electric vehicle batteries, Altilium Metals is pleased to announce that it has signed a binding Heads of Agreement with PT. Karya Sarana Optimis for 15% equity and marketing rights of all future production from its Nickel mines in Sulawesi, Indonesia. An option exists to increase the equity stake to 70% upon completion of resource estimates.

Mustika Artha Prathama holds two Nickel Production Permits (IUP-OP’s) of 261 Ha and 146 Ha, located in Morowali, Sulawesi Tengah, Indonesia.

Indonesia accounts for roughly 30% of the world’s nickel production and about 22% of global reserves and is critical to ensuring a stable supply of battery materials for electrification of transportation and renewable energy storage allowing advanced economies the decarbonise and achieve net zero.

Altilium Metals strategy is to provide a stable supply chain of critical metals to the UK and Europe to give it energy security and reduce its dependence on minerals from counties in conflict and with human right abuses.