Harum Energy completed the acquisition of a 51% stake in PT Position from Aquila Nickel for $80m.

Harum Energy, an Indonesia-based holding company that owns several subsidiaries engaged in coal mining, completed its acquisition of a 51% stake in PT Position, a company that holds a nickel mining business license, from Aquila Nickel, a greenfield nickel and cobalt project, for $80m. "The purpose of the transaction conducted by the company is to develop and expand business activities in the mining sector," Ray A. Gunara, Harum Energy President Director.