Antam hopes to complete anode slime smelter in 2017

IDX-listed mining firm PT Aneka Tambang Tbk (Antam) is pressing ahead with its plan to boost the capacity of its anode slime smelter in Gresik, East Java, hoping that the expansion project could be completed in 2017, after the government recently issued a regulation exempting value added tax on anode slime.

The exemption of the 10 percent VAT has made the anode slime smelter project to be economically feasible, Kontan quoted Antam Corporate Secretary Tri Hartono as saying on Friday.

Tri said that Antam is currently in talks with PT Smelting Gresik, which operates copper concentrates processing facility in East Java, to obtain the required raw material for the planned anode slime smelter.

Antam is planning to expand its anode slime smelter from the current capacity of 500 tons per year to 2,000 tons per year in a project that is estimated to require total investment of US$43 million.

Tri said that the new smelter is projected to be completed in 2017, when the government is expected to start banning the export of mineral concentrates including copper concentrates, which would provide ample raw material for the anode slime smelter, which will produce 20 tons of gold bars per year. (*)