PT Aneka Tambang controls 100% shares of PT Antam Jindal Stainless Indonesia, after buying a 45% stake of AJSI of JSL Stainless Limited.

AJSI is a JV established by the company with JSL in an effort to develop a nickel ore into nickel pig iron with the project site located in the district of North Konawe southeast Sulawesi province.

Mr Bimo Budi Satriyo corporate secretary said that "Due to internal considerations, JSL resigned from AJSI and based on the minutes that the GMS LB menyatakana AJSI has approved the transfer of all shares owned by JSL at AJSI to Antam."

He said that "Currently, AJSI center in feasibility study stage and the establishment of licensing arrangements nickel ore processing plant in accordance with the company's plan of business development for downstream product of nickel ore."

On September 23rd 2010, the company has signed a deed of sale and purchase of the return of 100% of shares AJSI. Thus, Antam has a 100% stake AJSI, equivalent to 10,000 shares with a total value of IDR 9, 25 billion. Then, according to deed the capital to AJSI added, so be IDR 28.4 billion.

(Sourced from www.okezone.com)