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ANTAM Signs Memorandum of Understanding with PT Bank ICBC Indonesia to Conduct Cooperation in Finance Areas in Amount up to US$1.5 Billion

10/18/2016
News Releases

Jakarta, October 18, 2016    - PT ANTAM (Persero) Tbk (ANTAM; ASX – ATM; IDX – ANTM) is pleased to announce the company has conducted cooperation in finance areas with PT Bank ICBC Indonesia in amount up to US$1.5 billion. ANTAM and PT Bank ICBC Indonesia sealed the cooperation through a Memorandum of Understanding (MoU) which was signed by ANTAM’s Finance Director Dimas Wikan Pramudhito and President Director of PT Bank ICBC Indonesia Shen Xiaoqi. The MoU was signed on Thursday, October 13, 2016.

ANTAM’s Finance Director, Dimas Wikan Pramudhito, said:
" This signing of the cooperation with PT Bank ICBC Indonesia reflects the trust and positive support from the banking industry amidst the challenging environment of the mining industry. "

The MoU between ANTAM and PT Bank ICBC Indonesia provides the cooperation in finance areas to support the development of ANTAM’s programs and/or projects. The support may include among others short term financing support which include working capital loan, and long term financing which includes among others financing for investing purposes, acquisition financing, financing for new subsidiary, new plant and financing to support production and distribution expansion.

ANTAM is currently developing strategic downstream projects of its main commodities of nickel, gold and bauxite. ANTAM’s projects include among others the Smelter Grade Alumina Refinery Project in Mempawah, West Kalimantan and the Anode Slime & Precious Metal Refinery Project.

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