JAKARTA - PT Amman Mineral Internasional Tbk (AMMN) recorded a decline in net profit throughout 2025. It is known that AMMN's net profit throughout 2025 was recorded at US $ 248.97 million or Rp. 4.36 trillion compared to the previous year which was recorded at US $ 642 million.
"The transition to Phase 8 mining, which is characterized by lower ore grades, together with the smelter capacity ramp-up process, creates short-term operational pressure," said AMMN President Director Arief Sidarto, Thursday, March 26.
He added that the AMMN smelter also experienced a temporary shutdown in July and August 2025 for the repair of the Flash Converting Furnace and Sulfuric Acid Plant. This work is a complex and crucial activity to ensure equipment reliability and operational stability.
"After the repairs are completed, the smelter operation will be stable again by the end of the year," continued Arief.
Furthermore, he added, AMMN's financial performance throughout 2025 also illustrates the impact of the export ban on concentrates at the beginning of the year and the smelter ramp-up process.
However, AMMN managed to book net sales of US$1,847 million with a strong performance in the second half, where Q4 contributed around 70 percent of full-year sales as copper smelter operations and Precious Metal Refinery (PMR) stabilized.
Furthermore, the volume of material mined in 2025 decreased 9 percent year-on-year (yoy).
"This decline is normal considering that 2024 is the peak mining volume, one of the highest in the history of the Batu Hijau mine," Arief continued.
As planned by the mine, after 2024 the mining volume will return to normal. Mining activities throughout the year focus on stripping the covering rock layer and mining the outer part of the Phase 8 ore which is characterized by low to medium grade ore.
Meanwhile, the volume of fresh ore mined increased 60 percent year-on-year; however, the ore grade was lower than the previous year.
Full-year concentrate production exceeded guidance by 4 per cent and gold production by 14 per cent, while copper production was 8 per cent below target.
On the downstream side, production reached an important milestone throughout the year. Copper cathode production began at the end of March 2025, with the total smelter production in 2025 reaching 79,849 tons, equivalent to 176 million pounds.
The production of pure gold from PMR will begin in mid-July 2025, producing 124,723 ounces throughout the year.
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