Exceeding Target, Construction of AMMAN Smelter in December 2023 Reaches 76%

Press Release
Exceeding Target, Construction of AMMAN Smelter in December 2023 Reaches 76%
Jakarta, 5 February 2024 – PT Amman Mineral Industri, a subsidiary of PT Amman Mineral Internasional Tbk (“Amman” or “Company” – stock code AMMN), continues its commitment to completing a copper smelter and precious metal refinery (“PMR”), a national strategic project under construction near the Company’s Batu Hijau copper-and-gold mine in West Sumbawa, Indonesia. An independently verified quarterly progress report covering the period from October to December 2023 stated that construction progress of the copper smelter has reached 76.1%, which is 105.1% of the scheduled target of 72.4%. Meanwhile, construction of the PMR has reached 72.7%, or 100.7% of the year-end target of 72.1%.

Amman Vice President of Corporate Communications and Investor Relations Kartika Octaviana stated that the Company is confident of reaching the completion target at the end of May 2024 for both the smelter and PMR, with commissioning to begin in June 2024.

“This achievement demonstrates AMMAN’s commitment as one of the largest copper-and-gold mining companies in Indonesia to contribute to developing the national mining industry to benefit the regional and national economy,” explained Kartika.

Once in operation, the smelter and PMR will be able to process up to 900 thousand kilotons per year (“ktpa”) of concentrate from the Batu Hijau mine, as well as the Elang project now in development. Output from the smelter will reach 222 ktpa of copper cathode and 830 ktpa of sulfuric acid. The PMR facility will produce 18 tpa of gold bullion, 55 tpa of silver bullion and 70 tpa of selenium.

In September 2023, AMMAN signed a Head of Agreement with Pertamina, Indonesia’s national petroleum company, to supply liquefied natural gas to fuel a combined-cycle gas turbine currently under construction. Powering the smelter and PMR with this low-emission fuel and highly efficient power plant will minimize the environmental impact of new downstream facilities.

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