AcroMeta's Subsidiary Forays into Nickel Trading in Indonesia

MT Newswires

01/22

AcroMeta's (SGX:43F) subsidiary, AcroMeta Minerals, signed a non-binding term sheet with Esa Jaya Labdagati for a proposed partnership to focus on nickel trading activities in Indonesia, according to a Thursday filing with the Singapore Exchange.

Esa Jaya is a nickel trading company that owns a nickel concession in South Konawe, Sulawesi, Indonesia.

Under the term sheet, AcroMeta will provide funding of up to SG$2 million and has a six-month option to acquire 51% interest in the nickel concession at SG$0.06 per share.

The move is part of the company's strategy to selectively invest in global nickel value chain.

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