Hillcon (HILL) Collaborates with Subsidiary of Merdeka Battery (MBMA)

Hillcon (HILL) Collaborates with Subsidiary of Merdeka Battery (MBMA)

PT Hillcon Tbk (HILL), a leading mining contractor in Indonesia, signed a Letter of Intent (LoI) with PT Sulawesi Cahaya Mineral (SCM), a subsidiary of PT Merdeka Battery Materials Tbk (MBMA) in Konawe, Southeast Sulawesi.

The signing of the LoI marks the start of strategic cooperation between Hillcon and Sulawesi Cahaya Mineral in developing the nickel industry within Indonesia. Hillcon has made its first cut on May 20, 2024.

"We are very enthusiastic to start collaborating with Sulawesi Cahaya Mineral or SCM and contribute to the development of the nickel industry in Indonesia," said Hillcon President Director, Hersan Qiu in his statement, Monday (3/6/2024).

The addition of clients strengthens the position of the issuer codenamed HILL as a nickel mining contractor, with a portfolio covering 9 mines, including PT Indrabakti Mustika which is a subsidiary of PT PAM Mineral Tbk (NICL), PT Adhi Kartiko Pratama Tbk (NICE), and PT Weda Bay Nickel (WBN).

According to Hersan, HILL is unique in its business model which is strong and resistant to fluctuations in nickel prices. "Demand for nickel ore continues to grow along with the increase in nickel smelter capacity in Indonesia," he explained.

This opens up great opportunities for HILL to continue to grow by targeting total production of nickel ore mining services of 17 million wmt in 2024, increasing 25% from last year's production.

Hersan is also optimistic that HILL is able to achieve its revenue target of IDR 5 trillion in 2024 with a nickel revenue contribution of IDR 2 trillion to IDR 2.5 trillion.

Hillcon (HILL) is a mining contractor company in Indonesia with more than 28 years of experience. The Company provides various mining services, including mining of coal, nickel and other minerals. HILL is committed to providing quality and efficient services to its customers, as well as implementing best practices in environmental and social management.

Editor: Jauhari Mahardhika (jauhari@investor.co.id)

Original Source:

Further Reading: