• AMMN requests for relaxation on copper concentrate export
Amman Mineral Internasional (AMMN) has asked for flexibility in copper concentrate exports
as the smelter commissioning process is progressing more slowly than planned. AMMN’s
President Director, Rachmat Makkasau, said that currently the smelter built by its subsidiary
Amman Mineral Nusa Tenggara (AMNT), has only reached around 48% operating capacity.
The smelter, located in West Sumbawa Regency, West Nusa Tenggara, has a processing
capacity of 900,000 tons of copper concentrate per year, with a production target of 220,000
tons of copper cathode. Apart from that, this smelter will also produce by-products such as
830,000 tonnes of sulfuric acid, 18 tonnes of gold bullion, 55 tonnes of silver and 77 tonnes of
selenium. Amman started the commissioning process on Jun 24 after completing the
mechanical completion stage on May 24. However, due to the complexity of the technology
used, combining technology from Yanggu, China, as well as several other providers such as
Merin and Ototec, the smelter startup process experienced technical problems. Thus, the
company hopes to be given the flexibility to export considering the many uncertainties in
the commissioning process. Until now, Amman continues to make various efforts to speed
up the commissioning of the smelter, including increasing the number of workers beyond
the initial plan to ensure smooth operations. (Kontan)
• INCO reveals IDR 2.8T contract with PTRO
Vale Indonesia (INCO) provided an explanation to IDX regarding the contract with Petrosea
(PTRO). The contract is in the form of procurement and construction work for the Pomalaa
Block mine development in the Pomalaa area, Southeast Sulawesi. After going through an
auction process, PTRO won the contract with a value of IDR 2.8T, which had a term of 24
months. The determination of the winner was followed by a contract signing process by both
parties on 3 Jul 24. Payment calculations are based on monthly work achievements/progress
completed by PTRO. Meanwhile, the Pomalaa mining area is one of the blocks in Vale
Indonesia’s Special Mining Business Permit (IUPK). The scope of work in this contract
includes the construction of mining infrastructure such as road construction, landfill areas,
water management infrastructure and other earthwork activities for the construction of the
Pomalaa Mine. The contract awarded to PTRO is part of the initial activities to prepare
facilities and infrastructure in the Pomalaa mining block, before INCO then carries out mining
activities in the area. After the procurement and construction contract for the mine is
completed, mining activities will begin. That way, there will be the potential for additional
income for INCO. (Kontan)
• KLBF withdraw 61.7M treasury shares
Kalbe Farma (KLBF) has obtained permission at the EGMS on 17 Feb 25 to withdraw 61.7M
treasury shares which have been bought back in 2022. With the withdrawal of the treasury
shares, Kalbe Farma’s issued and paid-up capital was reduced, from the initial IDR 468.7B to
IDR 468.1B. KLBF owns 1.02B treasury shares or 2.17% of the total shares outstanding. With
the withdrawal of 61.7M treasury shares, KLBF’s treasury shares are currently at around 958M
shares. (Bisnis Indonesia)
