On May 30, 2023, PT Amman Mineral Nusa Tenggara (“AMNT”) entered into a Concentrate Sales Agreement with Glencore International AG (“Glencore”) pursuant to which, AMNT has agreed to sell Glencore no less than 400,000 tons of concentrates from the Batu Hijau mine between 2024 and 2026. Concurrently with the signing of this new agreement, the parties have also agreed to amend the previous Concentrate Sales Agreement signed on September 16, 2021 between them to provide Glencore with a total discount of US$25.0 million in respect of the offtake arrangements with Glencore in 2023 and 2024. These arrangements are subject to certain conditions, including the completion of the Initial Public Offering of PT Amman Mineral Internasional Tbk.
