Ganfeng Lithium also has a call option to subscribe for additional new shares in either FER or PT ATS upon conversion of the convertible bond; however, the aggregate equity interest in FER or PT ATS that Ganfeng Lithium acquires shall not exceed 50 per cent, subject to a final agreed valuation.
In addition, Ganfeng Lithium will enter into 10-year nickel-ore offtake contract with PT ATS for the supply, at market price, of at least a million tonnes per annum with an option to increase the volume by an additional 0.5 million tonnes per annum and extend the offtake contract for a further five years.
Silkroad Nickel in its bourse filing:"The group foresees many mutual benefits and synergistic opportunities from this partnership, and views it as a step forward in its vision towards becoming a vertically-integrated key nickel and cobalt supplier and processor to the EV industry." Hong Kah Ing, executive director and chief executive officer of Silkroad Nickel said:"We are pleased to announce and embark on this exclusive partnership with Ganfeng Lithium, a world leader in lithium-ion batteries and electric vehicles. As the demand for EV accelerates across the world, Indonesia has emerged as a key player in the global EV ecosystem and we are excited to be part of this exciting supply chain.
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