Jakarta-China Nickel Resources Holdings Co. Ltd. annexing a nickel-iron ore mine owned by PT.Yiwan Mining in South Kalimantan worth HK $ 2.1 billion, equivalent to Rp2, 4 trillion.

Management of China Nickel in a written statement to the Hong Kong Stock Exchange today said the company agreed to a purchase agreement covering an area of ​​4001 hectares of mine was on October 7 with a combination of cash and debt.

Details, as much as HK $ 160 million paid in cash and the remaining HK $ 1.9 billion paid by the issuance of debt securities convertible into shares (convertible notes).

Acquired mines located in the village Mekarsari, District Simpang Empat - formerly Batulicin - District Tanah Bumbu, South Kalimantan. Claimed mineral reserves 177 million tons.

The transaction was affiliated as China Nickel bought a majority share of PT Yiwan Mining's controlling shareholder and executive director of his own, Dong Shutong.