| ANTAM and Inalum Have Agreed to Set Up a Joint Venture Company to Develop Smelter Grade Alumina (SGA) Refinery | |
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Jakarta, October 15, 2015 - PT ANTAM (Persero) Tbk (ASX: ATM; IDX: ANTM; ANTAM) and PT Indonesia Asahan Aluminium (Persero) (INALUM) are pleased to announce that they have agreed to set up a joint venture company with strategic partner to develop and operate Smelter Grade Alumina Refinery (SGAR). The SGAR is to be located in West Kalimantan with construction to start in 2016. The SGAR is planned to commence operations in 2019.
ANTAM's President Director, Tedy Badrujaman, said,
'The agreement with INALUM to set up a joint venture company with strategic partner is the next step following the signing of MoU between the two companies in July this year. The development of SGAR Mempawah will add value to our vast bauxite reserves through downstream processing.'
INALUM's President Director, Winardi Sunoto, said,
'Our synergy with ANTAM is part of our sustainable development initiatives to create an integrated downstream aluminium industry in Indonesia. The initiative also aims to enhance corporate added value and competitiveness.'
Following the agreement, ANTAM and INALUM will sign a shareholder agreement which will be followed with the establishment of a joint venture with strategic partner. ANTAM and INALUM are currently reviewing potential strategic partner. The candidates of potential partner are leading international companies with experiences in aluminium and alumina processing industry including, amongst others, candidates from China, Russia and United Arab Emirates.
The production capacity of SGAR is estimated at 2 million tons of SGA per year which will be developed in stages and will require bauxite ore feed of 6 million wet metric tons (wmt) per year. The capacity of the first stage of the SGAR is estimated at 1 million tons of SGA per year. ANTAM expects to process its vast bauxite reserves whilst INALUM expects to acquire alumina feed for aluminium processing from a domestic source, translating into lower dependency of alumina imports through the development of SGAR.
INALUM currently has an aluminium smelting capacity of 250,000 tons of aluminium ingots per year requiring a minimum of 500,000 tons of alumina feed per year. INALUM plans to increase its capacity to 500,000 tons of aluminium per year requiring 1 million tons of alumina feed per year in 2020. As part of its downstream strategy, in 2016 INALUM plans to produce the new products of aluminium billets and aluminium alloys, besides the existing aluminium ingot product.
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Alumina Limited
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PRODUCTEUR |
CODE : AWC.AX |
ISIN : US0222051080 |
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Alumina Ltd. est une société d’exploration minière basée en Australie. Alumina Ltd. est productrice de bauxite au Bresil, au Suriname, en Australie et en Jamaique, et détient divers projets d'exploration au Bresil. Ses principaux projets en production sont HUNTLY / WILLOWDALE en Australie, MOCHO en Jamaique, MOENGO au Suriname et TROMBETAS RIVER au Bresil et son principal projet en exploration est JURUTI au Bresil. Alumina Ltd. est cotée aux Etats-Unis D'Amerique, en Australie et en Allemagne. Sa capitalisation boursière aujourd'hui est 2,7 milliards AU$ (2,0 milliards US$, 1,7 milliards €). La valeur de son action a atteint son plus haut niveau récent le 13 juillet 2007 à 5,10 AU$, et son plus bas niveau récent le 13 mars 2009 à 0,54 AU$. Alumina Ltd. possède 2 879 840 000 actions en circulation. |