The Harita Nickel Group entity, PT Cita Mineral Investindo Tbk. (CITA), has injected fresh funds worth IDR 237.03 billion into the aluminum smelter project owned by the Adaro Group, PT Kalimantan Aluminium Industry (KAI).Cita Mineral Investindo Director Yusak Lumba Pardede said the company acquired 237,039 shares from the new shares issued by KAI, which totaled 1,896,312 shares or the equivalent of IDR 1.89 trillion."The company has taken over 237,039 of these new shares with a total nominal value of IDR 237.03 billion, or the equivalent of USD 14.55 million,” wrote Yusak in an information disclosure, quoted on Tuesday (2/9/2025).Yusak stated that this transaction is part of a series of the Company's capital injection actions into KAI throughout 2025.Year-to-date, the company has contributed capital with a total value of IDR 419.25 billion, or the equivalent of 5.5% of its total equity as of December 31, 2024, which was recorded at IDR 7.62 trillion.Following the issuance of new shares, a portion of which was purchased by CITA, the share ownership structure in KAI has changed. Currently, PT Alamtri Indo Aluminium is recorded as the majority shareholder with a 65% stake, or the equivalent of 4.82 million shares valued at IDR 4.82 trillion.In second place, Aumay Mining Pte. Ltd. controls 22.5% or 1.67 million shares with a value of IDR 1.67 trillion. Meanwhile, CITA has entered as a shareholder with a 12.5% stake, equivalent to 926,430 shares valued at IDR 926.43 billion.Overall, the total number of outstanding shares reaches 7.41 million shares with a nominal value of IDR 7.41 trillion.For context, the aluminum smelter located in the North Kalimantan Industrial Estate (Kaltara) is designed for a full production of 1.5 million tons in the third quarter of 2025, with an initial phase production target of 500,000 tons per year.The project, which is being built through the subsidiary of PT Alamtri Minerals Indonesia Tbk. (admr), PT Kalimantan Aluminium Industry (KAI), will later source its alumina raw materials from within the country.The project, located in the PT Kalimantan Industrial Park Indonesia (KIPI) industrial area, is also claimed to help reduce aluminum imports, providing processing and added value to alumina.In July 2025, admr planned to inject capital of up to IDR 4.91 trillion into KAI for the development of the aluminum smelter project.Based on the prospectus, the capital injection is being carried out in stages through admr's controlled entity, namely PT Alamtri Indo Aluminium (AIA), which is owned almost 100% directly or indirectly.
Source https://djakarta-miningclub.com