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ANTAM and Inalum Sign Memorandum of Understanding to Develop Smelter Grade Alumina (SGA) Plant

07/07/2015
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Jakarta, July 7, 2015 - PT ANTAM (Persero) Tbk (ASX: ATM; IDX: ANTM; ANTAM) and PT Indonesia Asahan Aluminium (Persero) (Inalum) are pleased to announce that they have signed Memorandum of Understanding (MoU) to develop smelter grade alumina (SGA) plant. The MoU was signed by ANTAM's President Director Tedy Badrujaman and Inalum's President Director Winardi on 3 July 2015 in Jakarta.

ANTAM's President Director Tedy Badrujaman said:
"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."

Inalum's President Director Winardi said:
"Our partnership with ANTAM will support the development of the downstream and value added bauxite industry in Indonesia. The partnership will be a positive momentum to encourage business integration in the bauxite industry."

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.

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