Amman Mineral’s plan to develop $1.6b smelter plant moves ahead

JAKARTA (TheInsiderStories) – PT Amman Mineal Industri, previously known as PT Newmont Nusa Tenggara (NTT) is making progress with its plan to develop smelter plant with planned capacity of 2 million tons of copper concentrates per annum. The company plans to spend US$1.6 billion to develop the smelter plant, located in its Batu Hijau mining site, West Nusatenggara. Last Friday (Apr 28), the Energy and Mineral Resources Minister Ignasius Jonan visited the company’s mining site.

Amman Mineral is 82.2 percent is owned by PT Amman Mineral Nusa Tenggara (AMNT) and 17.8 percent is owned by Pukuafu Indah. Medco Energi Internasional holds 50% shares in AMNT.  The smelter plant will be built on 80 hectares of land. The development of smelter plant is in line with the government’s long term policy to bar exports of raw materials. (*)