Metals and Mining
Company Overview of PT Indonesia Asahan Aluminium (Persero)
PT Indonesia Asahan Aluminium (Persero) manufactures and supplies aluminum ingots. It distributes its products to customers in Indonesia, as well as exports internationally. PT Indonesia Asahan Aluminium (Persero) was founded in 1976 and is based in Kabupaten Batu Bara, Indonesia. It has a smelting plant head office in Sumut, Indonesia; a representative office in Jakarta, Indonesia; and a liaison office in Medan, Indonesia.
Kecamatan Sei Suka
P.O. BOX 1
Kabupaten Batu Bara, 21257
Founded in 1976
Key Executives for PT Indonesia Asahan Aluminium (Persero)
Finance Director and Director
Operation Director and Director
General Affairs & Human Resources Director and Director
Development & Business Director and Director
Compensation as of Fiscal Year 2015.
PT Indonesia Asahan Aluminium (Persero) Key Developments
Government Seeks Stake In Freeport
Nov 23 15
Government of Indonesia is seeking to buy 10.64 percent of shares of PT Freeport Indonesia. Freeport Indonesia will have to offer 10.64 percent shares under mandatory share divestment plan. State miners Perusahaan Perseroan (Persero) PT Aneka Tambang Tbk. (JKSE:ANTM) and PT Indonesia Asahan Aluminium (Persero) will purchase ten percent of shares from Freeport Indonesia. Minister Rini Soemarno said on November 21, 2015, "We are interested to buy the shares, but the seller has yet to give us the price. Of course, we want to see the price.". He also said, "Antam and Inalum had been financially readied to buy PT-FI shares" Detik.com reported. He said "Securities house Bahana Sekuritas is fully ready to assess the nominal value of the shares to be offered by PT-FI."
FCX Seeks To Sell Part Of Its Indonesian Operations
Nov 8 15
Indonesia has warned Freeport-McMoRan Inc. (NYSE:FCX) must soon propose a price for divesting part of its Indonesian operations or be considered in default of its obligations, a senior mines official said. Freeport Indonesia must sell the government a greater share of its huge copper and gold mine in Papua as part of an extension the company's contract beyond 2021. Freeport had until October 14, 2015, to submit a proposal on how much the 10.6% stake in the company was worth. The government would then have 90 days to respond. "Because it has not offered this yet, we have a sent a warning letter," Bambang Gatot, director general of coal and minerals at the mining ministry, told reporters. Further delays may lead the government to declare Freeport in default of its obligations, he said. Gatot declined to specify how long the U.S. company had to respond to the letter, which was sent last week. Freeport officials were not immediately available to comment. Rini Soemarno, Cabinet minister has said either Perusahaan Perseroan (Persero) PT Aneka Tambang Tbk. (JKSE:ANTM) or PT Indonesia Asahan Aluminium (Persero) should buy the stake.
PT ANTAM Tbk and PT Indonesia Asahan Aluminium Agree to Set Up A Joint Venture Company to Develop Smelter Grade Alumina Refinery
Oct 16 15
PT ANTAM Tbk and PT Indonesia Asahan Aluminium are announced that they have agreed to set up a joint venture company with strategic partner to develop and operate Smelter Grade Alumina Refinery. The SGAR is to be located in West Kalimantan with construction to start in 2016. The SGAR is planned to commence operations in 2019. Following the agreement, ANTAM and INALUM will sign a shareholder agreement which will be followed with the establishment of a joint venture with strategic partner. ANTAM and INALUM are currently reviewing potential strategic partner. The candidates of potential partner are leading international companies with experiences in aluminium and alumina processing industry including, amongst others, candidates from China, Russia and United Arab Emirates. The production capacity of SGAR is estimated at 2 million tons of SGA per year which will be developed in stages and will require bauxite ore feed of 6 million wet metric tons (wmt) per year. The capacity of the first stage of the SGAR is estimated at 1 million tons of SGA per year. ANTAM expects to process its vast bauxite reserves whilst INALUM expects to acquire alumina feed for aluminium processing from a domestic source, translating into lower dependency of alumina imports through the development of SGAR. INALUM currently has an aluminium smelting capacity of 250,000 tons of aluminium ingots per year requiring a minimum of 500,000 tons of alumina feed per year. INALUM plans to increase its capacity to 500,000 tons of aluminium per year requiring 1 million tons of alumina feed per year in 2020. As part of its downstream strategy, in 2016 INALUM plans to produce the new products of aluminium billets and aluminium alloys, besides the existing aluminium ingot product.
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