Build A HPAL-RKEF Smelter, Antam Uses Revenue Funds Of Up To IDR 7.23 Trillion

President Director of PT Aneka Tambang (Antam) Tbk Nico Kanter. (Photo: Maria Trisnawati/VOI)

JAKARTA - PT Aneka Tambang (ANTM) is known to use divestment funds for the construction project of the higher pressure acid coaching (HPAL) and rotary kiln electric furnace (RKEF).

The smelter is targeted to be built this year.

President Director of PT Aneka Tambang (Antam) Tbk, Nico Kanter, to build this smelter, his party has signed a joint venture (JV) agreement on December 28, 2023 for the electric vehicle battery ecosystem project with Chinese company Ningbo Contemporary Brunp Lygend Co Ltd (CBL). For information, CBL is a subsidiary of Contemporary Amperex Technology Co. Limited (CATL).

"It's just the second step for the JV. The RKEF and the HPAL, which we plan to start construction this year, of course, if we have to complete the JV agreement," said Nico Kanter, quoted on Friday, June 21.

The Rp7.23 trillion fund comes from Antam's stock divestment process of 49 percent in its subsidiary, PT Sumberdaya Arindo (SDA), to its subsidiary Ningbo Contemporary Bruno Lygend Co. Ltd. (CBL), Hong Kong CBL Ltd. (HKCBL).

Antam also released 10 percent of its share ownership in its subsidiary PT Feni Haltim (FHT) to HKCBL worth IDR 130.2 billion.

Another Antam subsidiary, PT International Mineral Capital (IMC) also released all of its shares in FHT with a value of Rp614.50 billion to HKCBL.

Nico also said that Antam would still look for other sources of funding to hang from national banks and international banks. Currently, Nico continued, Antam has started exploring.

"We are also in the process of exploring. We are also trying national banks and international banks. This is still in the early stages," Nico concluded.

Doc. Maria