Deep Source Enters Preliminary Agreement to Acquire Indonesian Miner

MT Newswires Live

08/05

Deep Source (HKG:0990) said it entered a preliminary agreement to acquire a majority stake in an Indonesia-based miner, according to a Hong Kong bourse filing Monday.

Shares of the metal trader fell over 1% in Tuesday trade.

The company plans to buy 60% of Aneka Tambang Resources Indonesia from Mitra Unggul Berjaya for $9.9 million under a memorandum of understanding.

Aneka Tambang is a nickel miner with an operations license for an area covering 608 hectares in Obi Islands, south of Halmahera in Indonesia.

Both sides will now negotiate a definitive agreement for the transaction by the end of the year.

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