Hedonova Achieves Remarkable Profit, Yet Exits Indonesian Nickel Investment Due to ESG Concerns

Hedonova, a prominent alternative investment firm, is delighted to announce the successful closure of its nickel co-investment, which has generated an outstanding profit of 11.21% in the Indonesian Nickel market in two months.

This achievement showcases Hedonova’s strategic investment prowess and commitment to sustainable industries. “We are excited about this profitable arbitrage opportunity,” said Suman Banerjee, Chief Investment Officer at Hedonova. “By partnering with Glencore, we ensured the utilisation of this valuable high-grade Nickel asset in the growing electric vehicle market.”

Hedonova allocated $6.76 million from its investment fund, while clients contributed $33 million. The inventory purchase was completed on 10 June. Hedonova’s decision to exit the Indonesian nickel co-investment was driven by concerns over Indonesia’s loose labour and environmental standards, which contradict the country’s aspirations to become a hub for clean technologies. The acid-leaching process used in nickel mining has resulted in highly acidic waste being dumped into oceans or pumped underground, contaminating drinking water. Additionally, local communities have suffered from the destruction of paddy farms, acid rain, and respiratory problems due to the thick smoke and dust generated by mining activities. These environmental, social, and governance (ESG) issues played a pivotal role in Hedonova’s departure from the investment.

Get the week’s top news delivered directly to your inbox – Sign up for our newsletter

In addition to financial gains, Hedonova remains committed to environmental sustainability. The investment in high-grade Nickel inventory for electric vehicle batteries aligns with the firm’s dedication to supporting sustainable industries and technologies. Hedonova continues to explore alternative investment opportunities that offer attractive growth potential while managing risks effectively. The firm’s proven track record and client-focused approach have positioned it as a trusted partner in the investment landscape.

About Hedonova:
Hedonova is an alternative investment firm specialising in identifying and capitalizing on unique investment opportunities across various sectors. With a focus on delivering exceptional returns, Hedonova provides clients with access to alternative investment options that offer attractive growth potential. The firm’s experienced professionals utilize in-depth market knowledge and rigorous analysis to ensure strategic investments are aligned with clients’ financial goals.

Source: Hedonova

Can’t stop reading? Read more