WHW alumina output to reach 1m tons this year
Tuesday, June 6 2017 - 01:08 AM WIB
PT Well Harvest Winning Alumina Refinery (WHW) aims to increase smelter grade alumina (SGA) production at its alumina plant in Ketapang, West Kalimantan, to 1 million tons this year.
This was said by IDX-listed mining firm PT Cita Mineral Investindo Tbk, which through subsidiary PT Harita Prima Abadi owns a 25 percent stake in WHW, in a filing with the Indonesia Stock Exchange on Monday. The majority 75 percent stake is owned by China?s Hongqiao Group.
Cita said that WHW will start construction of a second-phase alumina plant once the current plant has reached its installed production capacity of 1 mtpa. The second plant will also have installed production capacity 1 mtpa. WHW plans to build alumina plant in Ketapang with combined capacity of 4 mtpa.
The first WHW alumina plant started commercial operation in June of last year, with a target to produce up to 600,000 tons of alumina by the end of the year, or 60 percent of the installed production capacity. WHW obtains the bauxite raw material from mines owned by Cita, thus allowing the latter to start enjoying revenue following an export ban of raw minerals by the government in early 2014. The alumina output is exported.
Elsewhere, Cita said that revenue as per end of December last year jumped to Rp 486.3 billion from Rp 13.9 billion at the end of 2015. As per end March 2017, the company booked a revenue of Rp 130.3 billion.
Editing by Reiner Simanjuntak