Antam, Chinese partner to sign JV agreement on smelter-grade alumina project
Friday, April 16 2010 - 02:04 AM WIB
?The signing of the JV agreement will happen on April 23-24, 2010, when Chinese Prime Minster is visiting Indonesia. Estimated cost for this project is around US$ 900 million,? Antam said in statement on Thursday.
In October last year, Antam and its Chinese partner Hangzou Jinjiang Group conducted a Bankable Feasibility Study (BFS) on the project.
Antam's CEO Alwinsyah Loebis said that the BFS started three months ago and will be completed in January or February next year. According to Loebis, if proven feasible, the project may start construction in 2013.
The plant would produce 1 million tons of smelter-grade alumina per annum with washed bauxite as raw material.
Meanwhile, Antam is also doing a feasibility study on and looking for partners for the development of a smelter in East Halmahera, North Maluku to process nickel ore from its mines there into ferronickel. The smelter is designed with a capacity of 27,000 tons Ni per year with a total investment of US$1.2 billion. (denny)