To be a transformative organization creating a legacy of best
On the island of Sumbawa, part of the Nusa Tenggara chain of islands, located 1,540 km east of Jakarta, lies the Batu Hijau mine.
The island is a haven of potential, with its pristine beaches, lush forests, towering mountains and abundant minerals that are responsible for up to 95% of Sumbawa Barat Regency’s gross income.
Unlocking new potential
The Batu Hijau mine was opened in 2000. It was previously thought that turning the mine around would be an impossible task, but we moved to defy such discouraging views. At Amman, we see opportunities in what others see as obstacles. There was so much potential stretched out in front of us. By 2020, we were achieving record-high production, and the mine has continued to outperform all expectations.
We instigated an ambitious turnaround, delving deep into each of the mine’s processes and addressing how we could make improvements. We utilized technological and mechanical innovations and breakthroughs, and at the same time, turned our attention to people. One key realization was that we would be able to achieve the full commercial potential of the mine by acknowledging the potential of our people. And so, assembling a team of diligent, intelligent and innovative thinkers has been one of our best moves since acquiring the mine.
Our perseverance and innovative thinking led to the success we have today. In 2020, Amman achieved a 10% higher copper recovery rate than the mine’s previous owner, which will only continue to rise in the following years. Since the commencement of operations in 2000, Batu Hijau has produced 8.78 billion pounds of copper and 8.7 million ounces of gold. Our operations are now responsible for up to 95% of the Sumbawa Barat Regency’s gross income.
Signed Contract of Work (CoW) with the Indonesian Goverment.
Batu Hijau Mine and Elang block desposits discovered and drilled.
Batu Hijau commenced its first production and shipment.
Embarked on operational, organizational and cost optimization initiatives.
100% local shareholding upon the acquisition of PT Newmont Nusa Tenggara by PT Medco Energi Internasional Tbk and PT AP Investment.
Secures credit facility of $600m to fund the expansion of Phase 6.
Converted CoW to operation Production Special Mining Business licenses (IUPK-OP).
Amman Mineral became significant shareholder of MacMahon Holdings Limited, a leading Australian mining contractor listed on Australian Securities Exchange (ASX).
Completed mining operation transition to MacMahon Holdings Limited.
Delivered first productive ore from Phase 7; 3 months ahead of the schedule.
Completed Front End Engineering Design (”FEED”) for the smelter project. Acquired 145ha of the project site in Benete.
Board of commissioners
Agus is a seasoned Indonesian investment banker with more than 30 years of experience in the industry. He started his career as the Head of Capital Markets at Danareksa (Persero) in 1982. His extensive career in the banking industry has brought him to seat at various executive positions including as the Vice President Director at DBS Securities Indonesia (1992 – 1995), Managing Director at Danareksa (1995-2001), President Director at PT Nusantara Mahabakti (20007 – present). Prior to joining AMMAN, Agus was the founding CEO of PT Ithaca Resources. He obtained his degree in Economics from Satya Wacana Christian University before completing his diploma in Economics of Development from the Australian National University.
Markus Permadi has worked in the banking industry for nearly 40 years and is a highly respected figure in the sector. His banking career started in 1971 with Citibank, where he worked for more than 10 years and became Vice President. Markus has since held director positions in several major banks, including Bank Central Asia as Executive Director and Bank Lippo (CIMB Niaga) as President Director. His extensive executive experience has also brought him to seat as commissioner for many companies, including PT Lippo Securities, PT Indosat (Persero), PT Jamsostek (Persero) and Bank Mandiri (Persero).
Markus has also held public service roles within the State-owned Ministry. There, he played various prominent roles, such as Assistant of Minister for Public Service and Human Resource Development in 1998 and for Finance and Other Services from 1998 to 2000. Most recently, Markus served as President Commissioner for PT Star Pacific Tbk between 2009 and 2013, and as a commissioner for PT Bank Nationalnobu from 2012 to 2017.
Markus obtained degrees in engineering and economics from the University of Indonesia and is now actively involved in social activities as the secretary of Yayasan Pendidikan Pelita Harapan.
Board of directors
Alexander Ramlie is currently the President Director and Chief Executive Officer of PT Amman Mineral Internasional. He joined in 2015 as a member of the Amman founding team. He played an instrumental role in the acquisition of PT Newmont Nusa Tenggara, now renamed as PT Amman Mineral Nusa Tenggara by Amman from Newmont Mining Corp., Sumitomo Corp., and PT Multi Daerah Bersaing. He is concurrently a Non-Executive Director of Macmahon Holdings Ltd, an ASX-listed mining contractor, which is indirectly controlled by Amman, and whose acquisition he led. From 2011 to 2015, he was the President Director and Chief Executive Officer of IDX-listed PT Borneo Lumbung Energi & Metal Tbk. During his tenure, Borneo operated a hard coking coal mine in Tuhup, Central Kalimantan, which was held by its wholly-owned subsidiary, PT Asmin Koalindo Tuhup. He also led the acquisition of a controlling stake in Bumi PLC by Borneo in 2011. Between 2012 and 2015, Alex was also a Director of LSE-listed Bumi PLC, a Vice-President Commissioner/Vice-Chairman of IDX-listed PT Berau Coal Energy Tbk and its subsidiary, PT Berau Coal. At the same time, he held commissioner positions at IDX-listed PT Bumi Resources Tbk, PT Kaltim Prima Coal, and PT Arutmin Indonesia. Alex began his career as an investment banker at Lazard Frères & Co and has a Bachelor of Arts and a Master of Arts in Economics from Boston University.
Arief Sidarto has extensive experience in the financial services and corporate sectors. He graduated summa cum laude with dual degrees in finance and engineering from the University of Pennsylvania before completing his MBA at Harvard Business School. Arief started his career with Goldman Sachs in New York in 1991 and eventually ran their investment banking business in Southeast Asia. He was also appointed as member of the Commitments Committee, which vetted all investment banking transactions in Asia, excluding Japan. Prior to joining Amman Mineral, he was Managing Director and Member of the Board of Rajawali Corpora, a diversified Indonesian business group with investments in palm oil plantation, gold and mining, luxury hotels and properties, transportation, infrastructure, as well as TV and media. During his time there, he played a prominent role in the Finance and Investment Committee, Ethics Committee, Audit & Risk Management Committee and Management Board.
David Gibbs is a mining engineer with nearly 40 years of continuous international mining experience in copper-gold, diamonds, uranium, gold, coal (thermal and coking), talc and nickel laterite with major companies, and as a consultant for smaller companies. He has been involved in underground and open pit mining, predominantly in South Africa, Namibia, Papua New Guinea, Australia, Thailand and Indonesia. He has held positions in the management of feasibility studies, mine planning, operations, productivity improvement/cost reduction programmes, due diligence studies, strategic planning and project evaluations/developments. He holds a BSc Hons in mining engineering, a First Class Mine Manager’s Certificate (Western Australia) and a Mine Manager’s Certificate (Republic of South Africa), and he is an Associate of The Royal School of Mines (ARSM) and a Chartered Engineer (C Eng).
Dr. Naveen Chandra Lal
Dr. Naveen Chandra Lal
Dr. Naveen Chandra Lal has extensive global and executive experience in mining operations, commercial and commodity trading, projects, acquisition, merger and strategic development. He has managed an extensive portfolio of commodities (coal, copper, iron ore, bauxite, phosphate, ceramic and drilling minerals) across multiple industries (copper, steel, aluminum, power, ceramics and oil well drilling). He holds a master’s degree in chemistry and a PhD from Jadavpur University, India. He also holds an Advanced Management Program degree from Harvard Business School, USA. Prior to joining PT Amman in 2016, he worked as CEO of RAK Minerals and Metals Investments FZC, United Arab Emirates, from 2008 to 2012, and later became President Director of Trimex International Indonesia from 2012 to 2016. He has over 25 years of international experience in the resource industries in Indonesia, China, India, Singapore, African and CIS countries.
Irwin holds double degrees with honors in engineering and triple majors in commerce (corporate finance, investment finance and accounting) from the University of Western Australia. For the last 19 years, he has worked in global mining, civil earthworks and engineering sectors, holding technical, operational, commercial and managerial roles. He has been with AMNT since 2016, prior to and during the transfer of Batu Hijau from Newmont to AMNT. He played a prominent role in the operational and cultural transformation for the new national ownership under AMNT. Prior to joining AMNT, Irwin held senior management positions at Leighton (now Thiess) Contractors, the world’s largest mining services provider. In addition, he was also the engineering advisor for HKND Group on the Nicaragua Grand Canal Project – at the time, the world’s largest proposed earthworks and infrastructure project to create a shipping canal connecting the Pacific Ocean to the Caribbean Sea. Prior to these roles, he was the Project Director and Head of Mining for ASX-listed Hunnu Coal Limited and Banpu SET-listed energy company, which owned and operated coking coal mines in Mongolia. He has professional experience across multiple commodities (coal, iron ore, gold, copper and nickel) spanning Australia, Mongolia, Philippines, Indonesia and Central America. He is a member of the Australasian Institute of Mining and Metallurgy and a qualified Competent Person for the reporting of JORC Code in the relevant field.