Amman Mineral Pockets Export Permits For Copper Concentrat Until December 2024

PT Amman Mineral Nusa Tenggara, a subsidiary of PT Amman Mineral Internasional Tbk, officially has a copper concentrate export license from the Ministry of Trade. This permit was obtained after AMNT received a recommendation for an Export Approval Letter (SPE) from the Ministry of Energy and Mineral Resources (ESDM).

AMNT President Director Rachmat Makkasau said the export quota for copper concentrates of 587,330 wet meric tons (wmt) or the equivalent of 534,000 dry metric tons (dmt) was valid until December 2024.

The quota is in accordance with the submission submitted in the 2024 Work Plan and Budget (RKAB).

"We appreciate the government's support so that AMNT can again export copper concentrate," he said, Friday, July 26.

He believes that this export license will improve the company's financial condition, which is currently spending high capital on expansion projects that support smelter operations.

Rachmat said that the provision of export permits was also proof that the progress of the copper smelter built by PT Amman Mineral Industri (AMIN) had been running according to the government's target.

Just so you know, based on the results of independent third-party verification, the AMIN smelter project has achieved a mechanical completion on May 31, 2024, where the smelter progress has reached 95.5 percent. The commissioning process for the main smelter facility takes place soon after.

"The first copper cathode production is targeted in the fourth quarter of 2024," he said briefly.

For information, Amman's copper smelter facility has a total input capacity of up to 900 kilo tons per year (ktpa) concentrate from green stone mines and Elang mines in the future. Products from this purification will be in the form of copper cathoos which reach 222 ktpa, around 18 tons of gold, 55 tons of silver and sulfate acid around 830.000 tons per year.