$PACK

*CNGR Continues Buying Spree with $32 Million Acquisition of Three Indonesian Nickel Concessions via MUS*

_April 27, 2025_ – Jakarta, Indonesia
Fresh off its *$65 million acquisition of Hanking’s nickel mining assets in Indonesia*, CNGR is back on the hunt. The battery materials leader has announced the *$32 million acquisition of a 92.73% equity interest in PT Multi Usaha Sejati (MUS)*, securing control over *three nickel mining concessions* in Indonesia. The deal, executed through CNGR’s wholly-owned subsidiary CNGR Zhongxin New Energy Pte. Ltd., represents the latest step in CNGR’s buying spree to lock down critical raw materials.

Notably, MUS was acquired from *Mr. Kentjana Widjaja*, a renowned yet low-profile billionaire from Surabaya, Indonesia. Widjaja is known for his diversified business interests spanning sectors such as mining, real estate, and manufacturing.

MUS, an Indonesian holding company, owns majority stakes in two key mining firms: a 55.00% share in *PT Harum Sukses Mining (HSM)*, which holds two nickel mining concessions, and a 55.01% share in *PT Bumi Halteng Mining* (BHM), which owns one nickel mining concession. With this acquisition, CNGR now directly controls *three promising nickel concessions*, further strengthening its strategic position in Indonesia, one of the world’s leading nickel producers.

*A Bold Vision for the Future*

These newly acquired nickel concessions are to be *injected into PT Abadi Nusantara Hijau Investama Tbk (PACK)*, CNGR’s listed Indonesian entity, strengthening its asset base and positioning PACK as a key player in Indonesia’s nickel sector.

This move also aligns with CNGR’s grand plan of developing the *Abadi Nusantara Hijau Industrial Park (ANHIP) in Southeast Sulawesi*, a major downstream nickel processing hub with a *total investment value of $10.5 billion*. The industrial park will host nickel smelters, battery precursor plants, and other critical infrastructure to support the growing demand for battery materials.

By *consolidating these assets under PACK, CNGR aims to unlock synergies, accelerate exploration and development activities*, and bring these projects into production to feed ANHIP’s processing facilities. This integration ensures a stable and efficient supply chain from mine to market.

*More to Come*

According to *inside sources at CNGR, this acquisition is just the beginning, with many more acquisitions expected to be announced in the near future*. The company is actively scouting for additional upstream and downstream opportunities to strengthen its global footprint and ensure long-term security of critical raw materials.