Lygend Sets Up Indonesian JV to Secure Tax Incentives for Slag-Treatment Project

MT Newswires Live

01/14

Lygend Resources & Technology (HKG:2245) said its Indonesian units PT Bhakti Bumi Sentosa and PT Bumi Mineral Sentosa set up a new joint venture in the country for tax incentives, according to a Hong Kong bourse filing Tuesday.

Shares of the nickel company fell over 5% in morning trade Wednesday.

The new joint venture, called PT Baja Jaya Lestari, will have an initial investment of around $505 million.

The venture is expected to reduce the future tax burden of the company's hydrometallurgical slag treatment business, specifically a plant with an annual treatment volume of 1.34 million metric tons, plus ancillary facilities.

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Technology (HKG:2245) said its Indonesian units PT Bhakti Bumi Sentosa and PT Bumi Mineral Sentosa set up a new joint venture in the country for tax incentives, according to a Hong Kong bourse filing Tuesday.</p><p>Shares of the nickel company fell over 5% in morning trade Wednesday.</p><p>The new joint venture, called PT Baja Jaya Lestari, will have an initial investment of around $505 million.</p><p>The venture is expected to reduce the future tax burden of the company's hydrometallurgical slag treatment business, specifically a plant with an annual treatment volume of 1.34 million metric tons, plus ancillary facilities.</p></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1190","symbol_name":"多種金屬與採礦","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2603166825","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2603166825","pubTimestamp":1768360160,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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