PT Sinar Terang Mandiri Tbk Secures Two New Contracts in Q1

New Contracts Expected to Positively Impact the Company’s Business Continuity, Financial Performance, and Operations

Jakarta, May 28, 2025 – PT Sinar Terang Mandiri Tbk (Stock Code: “MINE”) has marked another significant milestone in its business expansion by securing two strategic partnership contracts with PT Sulawesi Cahaya Mineral (PT SCM) for mining contractor services and material hauling operations in Konawe Regency, Southeast Sulawesi.

Under these agreements, MINE will perform key nickel mining activities, including topsoil removal, nickel ore excavation, and transportation. MINE has also been entrusted to carry out hauling services, transporting saprolite and gravel ore from Konawe Regency to the Indonesia Morowali Industrial Park (IMIP) located in Morowali Regency, Central Sulawesi.

Ivo Wangarry, President Director of MINE, stated that these two new contracts with PT Sulawesi Cahaya Mineral (PT SCM) further strengthen MINE’s position as an established mining services provider with over 20 years of experience. The partnerships also reflect the Company’s commitment to driving long-term business growth.

“We are grateful for the opportunity to collaborate and sincerely thank our partners for their trust. This collaboration is a strategic step to strengthen and expand our project portfolio, while reaffirming our commitment to delivering significant value to all stakeholders,” said Ivo Wangarry in an official statement on Wednesday (28/5).

Ivo expressed confidence that the new contracts would have a positive impact on the Company’s business continuity, financial performance, and overall operations. He also noted that the new projects would require significant upfront investment, which may affect short-term profitability.