Jakarta, August 23, 2016 - PT ANTAM (Persero) Tbk (IDX: ANTM; ASX: ATM; ANTAM) announces that the company welcomes the Government’s initiative in creating the Holding Company for Mining State-Owned Enterprises (SOE). The initiative is part of the Government’s efforts to strengthen the position of Indonesia’s Mining SOE. The initiative calls for the inclusion of ANTAM as part of Indonesia’s Mining Holding SOE, which also includes PT Bukit Asam (Persero) Tbk (PTBA), PT Timah (Persero) Tbk (TINS), PT Indonesia Asahan Aluminium (Persero) (INALUM) and the 9.36% Government’s stake in PT Freeport Indonesia (PTFI). As the Government aims for an immediate, more optimum and controllable creation of a Mining Holding SOE, initially the Government will assign INALUM as the Mining Holding SOE given the Government’s 100% ownership of INALUM.
The Deputy Minister of SOE for Restructuring & Business Development, Aloysius Kiik Ro said,
" The creation of a Holding Mining SOE is a shareholder action which aims to strengthen the performance and restructure the Mining SOE. The initiative is part of the Government’s mineral & coal downstream policy in creating added value products which will have substantial influence on the national economy".
ANTAM’s President Director, Tedy Badrujaman said,
" As a national resources based company with the main commodities of nickel, gold and bauxite, ANTAM welcomes the Government’s initiative to create the Mining Holding SOE. The creation of the holding company, supported with recent commodity prices rally, will increase the business scale, diversification, financial liquidity profile and cost efficiency of Mining SOE".
The creation of Mining Holding SOE is expected to increasing the mineral & coal reserves and resources profile, both from exploration and acquisition, supporting the domestic coal and mineral downstream program as well as initiating a national mining company with global competitiveness and transformation into a major global mining company.
