JAKARTA (Yosefardi) – State miner PT Aneka Tambang (Antam) Tbk (ANTM) will commence commercial operation of processing plant (smelter) converting bauxite ore into chemical grade alumina (CGA) in March next year.
Antam has spent Rp5 trillion, equivalent US$490 million, for this project with initial production capacity expected at 200,000 to 220,000 tons, a 70% of its installed capacity.
Antam expects this project would contribute 15-20% revenue next year. Early last month Antam has obtained loan of US$63.4 million, equivalent Rp680 billion, from Bank Rakyat Indonesia and Bank Sumitomo Mitsui Indonesia. ANTM was traded flat at Rp1,570 this morning.