JAKARTA — PT Indo Tambangraya Megah Tbk. (ITMG) is actively exploring opportunities to increase its ownership stake in the emerging nickel issuer, PT Adhi Kartiko Pratama Tbk. (NICE).
Mulianto, the President Director of Indo Tambangraya Megah, emphasized that ITMG’s initial acquisition of 9.6% of NICE is a pivotal strategic move. This investment signifies ITMG’s commitment to participate robustly in the future global trend of electrification. “One of the key areas we can support in the electrification process involves critical minerals, and nickel stands out as a prime example,” Mulianto stated on Wednesday, September 10, 2025.
He further elaborated that ITMG boasts a long and distinguished history in the mining sector. Management is confident that ITMG’s profound expertise in mining operations can be successfully developed and applied to this new, forward-looking direction within the nickel industry.
The acquisition of NICE shares is positioned as a foundational stepping stone for ITMG, marking its significant foray into the nickel business and the broader nickel ecosystem. Through this strategic shareholding, ITMG aims to foster deeper collaboration and enhance its participation within the dynamic nickel industry.
Looking ahead, Mulianto indicated that ITMG is open to various possibilities for increasing company value, including both raising its ownership in NICE and forming strategic partnerships, which will be carefully considered. “Whether we will increase our ownership [in NICE] is certainly a possibility. We believe this initial step can effectively integrate ITMG into the global nickel ecosystem. This also represents a crucial initial phase for our learning and development within this sector,” he added.
For context, ITMG currently holds a 9.62% stake in NICE. According to data from KSEI (Indonesia Central Securities Depository), ITMG is recorded as owning 585,000,000 shares of NICE, equivalent to 9.62%. Other prominent shareholders in NICE include Energy Battery Indonesia, holding a significant 69.57% stake, and Sungai Mas Minerals, with 10.43% ownership.
NICE is an enterprise primarily engaged in nickel ore mining, focusing its operations on exploration through lateritic nickel projects. Its mine is strategically located in Lameruru Village, Langgikima District, North Konawe, Southeast Sulawesi, encompassing a substantial concession area of 1,975 hectares. NICE made its debut on the Indonesia Stock Exchange (IDX) on January 9, 2024, successfully raising Rp532.78 billion from its Initial Public Offering (IPO).
Summary
PT Indo Tambangraya Megah Tbk. (ITMG) is actively exploring opportunities to increase its 9.6% stake in nickel issuer PT Adhi Kartiko Pratama Tbk. (NICE). This initial acquisition is a strategic move, signifying ITMG’s commitment to robust participation in the future global electrification trend through critical minerals like nickel. ITMG aims to leverage its extensive mining expertise in this new venture, considering it a foundational step into the nickel business and ecosystem.
ITMG’s President Director indicated that increasing ownership in NICE is a possibility, viewing it as a crucial phase for learning and development within the sector. NICE, primarily engaged in nickel ore mining through lateritic projects, operates a 1,975-hectare concession in Southeast Sulawesi. The company debuted on the Indonesia Stock Exchange in January 2024, raising Rp532.78 billion from its Initial Public Offering.