ANTM — To boost performance with Mempawah Smelter Commissioning in 2H24

ANTM — To boost performance with Mempawah Smelter Commissioning in 2H24 Aneka Tambang's (ANTM) upcoming commissioning of the Smelter Grade Alumina Refinery (SGAR) in Mempawah is expected to significantly enhance its financial and operational performance in 2H24. The SGAR will commence commissioning in September 2024, with commercial operations scheduled for February 2025. Phase I of the project involves an investment of USD831.5 mn and will increase alumina production and bauxite processing capacity by 1 mn tonnes and 3 mn tonnes, respectively. Note that, ANTM’s total sales reached IDR23.18 tn (+7.05% yoy) in 1H24, despite a 17.95% yoy decline in net profit. (Source : Bisnis Indonesia)