Antam, Inalum sign MoU to develop alumina smelter

By Romel S. Gurky

IDX-listed mining firm PT Aneka Tambang Tbk (Antam) and aluminum producer PT Indonesia Asahan Aluminium (Inalum) had on July 3 sign an MoU to jointly develop a smelter grade alumina (SGA) plant.

Antam said in a statement Wednesday that the MoU was signed by company President Director Tedy Badrujaman and Inalum?s President Director Winardi.

?Antam?s cooperation with Inalum is an important step in our undertaking to add value to Indonesia?s vast bauxite reserves and to support the synergy between state-owned enterprises,? Tedy said in the statement, but did not provide details about the planned SGA plant.

Under the MoU, Antam and Inalum plan to seek, evaluate and conduct selection process of prospective strategic partner in developing the SGA plant as well as selection of partnership scheme. Antam and Inalum also aim to create joint venture company and conduct comprehensive study on legal, financial and technical?operational aspects.

Editing by Reiner Simanjuntak