AMNT, PTFI plan anode slime, precious metal refinery

Gold and copper giants PT Amman Mineral Nusa Tenggara (AMNT) and PT Freeport Indonesia (PTFI), and copper smelter operator PT Smelting had on Monday signed a MoU to set up a joint anode slime and precious metal refinery, Bisnis Indonesia reported Tuesday.

Under the MoU, the three firms will supply anode slime to the planned refinery. Anode slime is a by-product of copper concentrates smelter. AMNT plans to develop a 2 million tons per annum copper smelter in Sumbawa, West Nusa Tenggara Province, while PTFI also plans to develop a similar smelter in Gresik, East Java Province, with the same capacity. PT Smelting currently operates the country?s only copper smelter in Gresik with capacity of 1 million tons per annum, in which PTFI holds a 25 percent stake.

There were no much details available about the planned anode slime and precious metal refinery.

PTFI and PT Smelting initially signed a MoU with IDX-listed mining firm PT Aneka Tambang Tbk (Antam) for cooperation to develop an anode slime and precious metal refinery in East Jakarta with capacity of 6,000 tons per annum. But Antam later decided to pull out from the planned joint project due to disagreement over the price of anode slime to be purchased from PT Smelting. (*)