Jakarta –
PT Amman Minerals International Tbk announced plans for an Initial Public Offering (IPO) to be conducted by the Company in June this year.
President Director of Amman, Alexander Ramlie said this corporate action is one of the strategic steps to develop a sustainable business in the energy transition era, which will drive demand for copper in the future.
He said Amman’s business development, starting from the construction of a smelter, increasing the capacity of the concentrator factory, to the construction of a gas power plant is a big step that will have a positive impact on the Company and stakeholders, as well as on the communities around the operational area, Indonesian citizens, and also the world.
Alexander explained that currently Amman’s subsidiary, PT Amman Mineral Nusa Tenggara (AMNT) has entered Phase 7 of the Batu Hijau mine operation, in West Sumbawa Regency (KSB), West Nusa Tenggara Province (NTB).
According to Wood Mackenzie, the Batu Hijau mine is the second largest copper and gold mine in Indonesia, and has the fifth largest copper equivalent reserves in the world when combined with the Elang deposit.
“We are currently in the development stage of Phase 8 which is expected to extend the life of the mine until 2030. We will also begin preparing Elang to be able to start mining operations in 2031 to 2046,” he said in a press release, Friday (2/5/2023).
Amman’s ore reserves data for Batu Hijau and Elang as of December 31, 2022 according to JORC Code 2012 (Joint Ore Reserves Committee) amounted to 17.12 billion pounds of copper and 23.2 million ounces of gold.
Besides having abundant reserves, another advantage possessed by the Company is low production costs. Data from Wood Mackenzie shows that Amman’s C1 cash cost1 is one of the lowest compared to other copper mining companies in the world.
This was achieved due to various initiatives to improve operational productivity and efficiency, breaking historical records and even global standards.
Give Added Value Amman through its subsidiary, PT Amman Mineral Industri (AMIN) will build a smelter with an initial input capacity of 900,000 tons of copper concentrate per year. Later, this smelter will process copper concentrate from the Batu Hijau mine and the Elang project.
He said the smelter would produce 222,000 tons of copper cathodes, 830,000 tons of sulfuric acid (with a concentration of 98.0%). Then the Precious Metal Refining will produce 18 tons of gold bars (with a gold purity of 99.9%), 55 tons of silver bars (with a purity of 99.9% silver), and other precious metals. This smelter was built as part of the Company’s efforts to support the government’s downstream program. “With the processing of copper concentrates carried out domestically, the Company provides added value to the product, for Indonesia,” said Alexander.
For your information, the Structure of the Public Offering of Amman Minneral Shares is in the IPO process of a maximum of 7,287,520,000 new shares which are Named Ordinary Shares with a nominal value of IDR 125 per share or a maximum of 10% of the issued and paid-up capital after the Public Offering of Shares Initial issued from the Company’s portfolio and offered to the public, with an offering price range of IDR 1,650 to IDR 1,775 per share.
The target for funds from the Initial Public Offering to be collected from the public is a maximum of IDR 12.9 trillion, most of which will be used for business development activities.
The initial offering or bookbuilding period will be held from today 31 May 2023 to 16 June 2023. The public offering period is planned for 28 June – 3 July 2023. It is planned that Amman will be listed on the Main Trading Board of the Indonesian Stock Exchange (IDX) using the stock code AMMN.
For this corporate action plan, the Company has appointed PT BNI Sekuritas, PT CLSA Sekuritas Indonesia, PT DBS Vickers Sekuritas Indonesia, and PT Mandiri Sekuritas as Joint Lead Underwriters.
(the the)
2023-06-02 16:00:49
#Amman #Mineral #Jumbo #IPO #Trillion #money
