Indonesian miners Antam, Inalum in JV with China Aluminum for $1b refinery project

Indonesia state-owned miners PT Aneka Tambang Tbk (Antam) and alumina producer PT Indonesia Asahan Aluminium (Inalum) have signed an memorandum of understanding (MoU) with China Aluminum Co. (CHALCO) to develop a $1-billion smelter-grade alumina (SGA) refinery in Mempawah, West Kalimantan.

The company’s director Johan Nababan told DEALSTREETASIA, Antam and Inalum will together hold 51 per cent in the project while CHALCO will take 49 per cent. The project will be built in three years.

The smelter would have a capacity to produce 1 million tonne alumina a year starting 2018 and would supply to Inalum plant in North Sumatra.

“We will now form a team to conduct a feasibility study of the project. We expect the study to be completed in February and will begin construction in Q2,” said Johan.

According to him, the project is Indonesia’s first SGA smelter in Indonesia and has the potential to reduce the production cost of Inalum. Currently, Inalum imports raw material from Australia at $14 a tonne, which will come down to $1 per tonne.

Antam’s total bauxite ore reserve stood at 111.5 million metric tonne at the end of 2014.

Antam is planning a capital expenditure of Rp10 trillion ($735.29 million) in 2016 and is also looking at exploring new gold and copper mines.

Also Read: 

Indonesia’s Antam, Australia’s Newcrest team up to develop gold & copper projects

State-owned firms Inalum, Antam can buy 10.64% in Freeport Indonesia: SOE minister 

Image: Freedigitalphotos.net

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.