Techno9 Advances Mongolia Mine Acquisition, Eyes Indonesian Expansion

Strategic Mining Investment Update

PT Techno9 Indonesia Tbk (NINE) has provided a significant update regarding its planned acquisition of Poh Group's mining assets in Mongolia, managed through Poh Golden Ger Resources Pte Ltd (PGGR). This development represents a crucial step in Techno9's expansion strategy in the mining sector.

Key Acquisition Details

The acquisition involves PGGR, an entity affiliated with Poh Group through common controlling shareholder Poh Kay Ping. PGGR currently owns 100% of two mining concessions in Mongolia, positioning it as a significant player in the region's mining industry. The transaction is part of Techno9's broader strategy to expand its presence in the mining sector.

Potential Impact on Indonesian Mining Investments

According to Nuzwan Gufron, CEO of Techno9, this development could have material implications for future mining investments in Indonesia. The company is considering both joint operation arrangements and direct ownership as potential pathways for future investments in the Indonesian mining sector. This strategic move aligns with Techno9's growth plans and its aim to strengthen its position in the regional mining industry.

Business Implications

The acquisition, if successful, would not only expand Techno9's asset portfolio but also potentially create new business opportunities in Indonesia. The company's ability to leverage Poh Group's mining assets in Mongolia could provide valuable experience and resources for its planned operations in Indonesia. This development is being closely watched by industry observers as it may signal a significant shift in Techno9's business strategy.