17/09/2023 | ArticleAMMAN’s Relentless Journey to Top Copper and Gold ProducerIn the seven years since assuming control of the Batu Hijau mine, PT Amman Mineral Nusa Tenggara (AMMAN) has turned around its operations. As a globally significant copper-and-gold producer with large, world-class reserves, AMMAN has implemented various value-creation initiatives to enhance productivity and cost efficiency. Since then, AMMAN has broken multiple historical records underscoring the relentless pursuit of excellence.
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29/08/2023 | ArticleTackling Fatigue in Open-pit MiningBatu Hijau mine in Indonesia ranks among the most productive copper mines in the world, producing 1% of the world’s total supply (Wood Mackenzie).
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22/08/2023 | ArticleCompetitive and Vibrant! Five Strongest Teams Crowned Champions of the 2023 KSB Professional Football League FinalsWEST SUMBAWA, 22 August 2023 – PT Amman Mineral Nusa Tenggara (AMMAN) organized a series of finals for the West Sumbawa Regency Professional Football League (Liga KSB) 2023 season, which commenced in February 2023. The finals, held on 19-20 August at the Gibraltar Football Field, resulted five winning teams from each category: Gelora Mura FC as the Liga-1 champion, Goa FC as the Liga-2 champion, Taliwang FC as the Women’s U-18 League champion, Taliwang as the champion of the Men’s U-15 League, and MD United as the champion of the Disability League.
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09/08/2023 | ArticleHow New Battery Technology Using Less Copper Will Boost Copper Demand9 Agustus 2023 – The electric vehicle (EV) revolution is charging ahead at an incredible pace, with global sales surpassing 10 million cars in 2022. This is expected to surge by 35% to reach 14 million this year, according to Global EV Outlook 2023 data published by the International Energy Agency. As concerns about carbon emissions and the allure of fuel and maintenance savings drive this explosive growth, a vital element stands at the forefront of this eco-conscious revolution – copper.
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07/08/2023 | ArticleAMMAN and Persija: A Collaboration to Improve Indonesian Football Through Training and Licensing West Sumbawa CoachesJakarta, 7 August 2023 – Persija Jakarta and PT Amman Mineral Internasional Tbk (AMMAN) are collaborating to further develop national football. The copper-and-gold mining company based in West Sumbawa (KSB), sponsored ten coaches from the local Football Academies (Sekolah Sepak Bola or SSB) to attend a National D License course held by Persija Jakarta football club at Nirwana Park, Depok, West Java, on 24 – 31 July 2023.
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24/07/2023 | Press ReleaseAMMAN Obtains Export Permit Until May 2024A subsidiary of PT Amman Mineral Internasional Tbk ("AMMAN" or "Company"), PT Amman Mineral Nusa Tenggara (AMNT), has obtained approval for the export of copper concentrate from Indonesia's Ministry of Trade. The export permit for 900,000 wet metric tons of copper concentrate is valid from 24 July 2023 to 31 May 2024. This export permit is issued based on the recommendation from the Ministry of Energy and Mineral Resources (ESDM) that allows AMNT to export mineral processing products.
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06/07/2023 | Press ReleaseAmman Mineral Internasional (AMMN) IPO Oversubscribed 13.6 timesJakarta, 6 July 2023 – PT Amman Mineral Internasional Tbk (stock code “AMMN”) is scheduled to go public on the Indonesia Stock Exchange on Friday (7/7). The enthusiasm of retail market players is quite high, as seen from the public offering process that took place on 3-5 July 2023.
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10/06/2023 | ArticleThe Ministry of EMR issued a Regulation to Allow Copper Concentrate Export until May 31, 2024On June 9, 2023, the Ministry of Energy and Mineral Resources of the Republic of Indonesia (“MEMR”) issued MEMR Regulation No. 7 of 2023 regarding Continuation on the Construction of Domestic Metal Mineral Refining Facilities (“MEMR Reg No. 7/2023”) which will take effect on June 11, 2023. MEMR Reg No. 7/2023 allows copper concentrate with a level content of ≥ 15% Cu to be exported outside Indonesia until May 31, 2024 subject to the satisfaction of certain prescribed requirements, including the obtaining the recommendation from the Directorate General of Mineral and Coal as a condition to receiving a valid export permit. The amount of copper concentrate allowed to be exported outside of Indonesia is determined based on (i) an estimate of the mineral reserves required to satisfy domestic refining facilities as referred to under the Law No. 4 of 2009 on Mineral and Coal Mining, as amended by Law No. 3 of 2020 on the Amendment of the 2009 Mining Law (“Mining Law”), (ii) the approved export amount of Processed Product (as defined below) as set out in the approved annual work program and budget (Rencana Kerja dan Anggaran Biaya or RKAB) of the relevant permit holder and (iii) the capacity of domestic refining facilities as referred to under the Mining Law. The following sets out a summary of the key conditions for the grant of an export permit:
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10/06/2023 | ArticleAMNT entered into a Concentrate Sales Agreement with Glencore International AG (“Glencore”)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.
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