Antam signs MoU with Freeport, Smelting
Wednesday, February 8 2017 - 12:58 PM WIB
Petromindo|Thomas
IDX-listed mining firm PT Aneka Tambang Tbk (Antam) signed on Wednesday a MoU with gold and copper giant PT Freeport Indonesia and copper smelter PT Smelting to support the former?s planned anode slime and precious metal refinery project.
Business Development Director of PT Antam Johan Nababan said that under the MoU, PT Freeport and PT Smelting will supply anode slime, a by-product of copper concentrates smelter, to the anode slime and precious metal refinery to be built by Antam. PT Freeport allocates about a third of its copper concentrates output to PT Smelting?s smelter in Gresik, East Java, to among produce copper cathode, the by-product of which is anode slime.
He said that Antam will develop the anode slime and precious metal refinery on its own, with estimated investment requirement of US$120 million. ?We?re ready, the (required) funds, estimated at $120 million, can be sought,? he told Petromindo.com.
Antam said it is planning to build the anode slime and precious metal refinery with annual capacity of 6,000 tons of anode slime in Pulogadung, East Jakarta, and that the feasibility study has been completed.
The company hopes to be able to obtain 2,000 tons per year of anode slime from PT Smelting that could be refined further into 20 tons of gold per year.
Editing by Reiner Simanjuntak