Development Projects

• Switch-on and synchronization of power plant (Phase-2) will be implemented in Quarter 1-2023.
• Plant commissioning phase, characterized by:
  • Burner-on or furnace heating process on 7 July 2023
  • Switch-on furnace on 19 July 2023
  • First slag tapping on 22 August 2023
  • First metal tapping on 12 September 2023.

•    INALUM and ANTAM formed a joint venture entity, PT BAI (ANTAM (40%)) in the SGAR project.
•    In line with the SGAR plant construction, ANTAM is developing a bauxite mine in the IUP area in the Mempawah Area.
•    Physical progress of SGAR construction up to 31 December 2023 has reached 80%.

• Signing of the Conditional Share Purchase Agreement (CSPA) and Shareholders Agreement (SHA) between ANTAM & Hongkong CBL Limited (“HKCBL”) for the transfer of part of ANTAM’s share ownership to PT Sumberdaya Arindo (January 2023).
• Signing of the Conditional Share Purchase Agreement (CSPA) and Shareholders Agreement (SHA) between ANTAM, PT International Mineral Capital (“PT IMC”), and HKCBL for the transfer of PT IMC share ownership and part of ANTAM’s share ownership to PT Feni Haltim for the development and operation of an industrial estate as a location for the development of an integrated EV Battery ecosystem, as well as expansion and/or construction of ports and other infrastructure including the construction of nickel processing facilities based on RKEF technology (May 2023).
• Signing of a Joint Venture Agreement (JVA) regarding the plan to establish a joint venture company for a hydrometallurgical project (“HPAL JVCO”) (December 2023).
• Completion of the divestment transaction of ANTAM’s subsidiaries, PT Sumberdaya Arindo and PT Feni Haltim, as part of a series of transactions in collaboration between ANTAM and HKCBL (December 2023).