Deep Source Enters Preliminary Agreement to Acquire Indonesian Miner
MT Newswires Live
Aug 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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