Jakarta, April 30, 2025 – PT Amman Mineral Internasional Tbk (IDX: AMMN) (“AMMAN,” the “Company,” or “We”) today announced its plan to conduct a share buyback program of up to US$50 million, equivalent to IDR 835 billion assuming an exchange rate of IDR 16,700 per US dollar, as part of its ongoing commitment to delivering long-term value to shareholders.
The buyback plan will be conducted in accordance with the recently announced regulation by Indonesia Financial Services Authority (OJK), as stated in letter No. S-17/D.04/2025, and will be funded by internal cash reserves.
Alexander Ramlie, CEO of AMMAN stated, “Our board has approved a share buyback program to demonstrate our conviction in the company’s sound fundamentals and long-term growth prospects. In our view, the current market price does not fully reflect the value embedded in our portfolio, particularly the Elang deposit—one of the world’s largest undeveloped copper-and-gold resources. The 2024 JORC report increased Elang’s ore-reserve estimate by roughly 80% to 2.5 billion tonnes, containing 17.8 billion pounds of copper and 26.4 million ounces of gold. As we bring this asset into production and execute our wider strategy, we will continue to allocate capital responsibly, generate sustainable returns, and create lasting value for our shareholders.”
We remain focused on creating sustainable value through operational excellence, responsible mining practices, and strategic investments.
