Antam, Bank ICBC sign MoU on $1.5b loan
Tuesday, October 18 2016 - 05:53 AM WIB
IDX-listed mining firm PT Aneka Tambang Tbk (Antam) said on Tuesday it had on October 13 signed a MoU with PT Bank ICBC Indonesia for the latter to provide up to US$1.5 billion loan to the former.
Antam?s Finance Director, Dimas Wikan Pramudhito, said in a statement: ?This signing of the cooperation with PT Bank ICBC Indonesia reflects the trust and positive support from the banking industry amidst the challenging environment of the mining industry.?
Antam said the MoU provides the cooperation in finance areas to support the development of Antam?s programs and/or projects. The support may include among others short term financing support which include working capital loan, and long term financing which includes among others financing for investing purposes, acquisition financing, financing for new subsidiary, new plant and financing to support production and distribution expansion.
Antam said it is currently developing strategic downstream projects of its main commodities of nickel, gold and bauxite. Antam?s projects include among others the Smelter Grade Alumina Refinery Project in Mempawah, West Kalimantan and the Anode Slime & Precious Metal Refinery Project.
Editing by Reiner Simanjuntak