Antam Boss Calls RKEF Smelter And HPAL China's Gaet Results Entering The Feasibility Study Stage

Smelter (Photo: Antara)

JAKARTA - President Director of PT Aneka Tambang (Antam) Tbk, Nico Kanter, revealed the latest news regarding the Antam smelter project with the Contemporary Amperex Technology Co. Limited (CATL) located in East Halmahera.

Just so you know, these smelters are the Rotary Kiln Electric Furnace (RKEF) and High-Pressure Acid Leach (HPAL) smelters.

Nico said, the progress of this smelter has entered the stage of feasibility study (FS)

"Now we are entering the midstream. Land preparation for us has an industrial park running. For permits and FS mobilizing about midstream, it's going well," he told reporters quoted on Tuesday, July 23.

For information, Antam is known to use divestment funds for this purification industry development project and is targeted to be built this year.

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.