PT Antam (Persero) Tbk

ANTAM, PT Freeport Indonesia and PT Smelting Sign Memorandum of Understanding Regarding the Development Project of Anode Slime Processing & Precious Metal Refinery Plant
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Jakarta, April 4, 2016 - PT ANTAM (Persero) Tbk (ANTAM; ASX – ATM; IDX – ANTM) is pleased to announce that the company together with PT Freeport Indonesia (PTFI) and PT Smelting (PTS) have signed Memorandum of Understanding (MoU) regarding the development project of Anode Slime Processing and Precious Metal Refinery (PMR) Facility Plant. Through the MoU, ANTAM and PTFI will evaluate ANTAM’s participation in PTFI’s proposed PMR project.

ANTAM’s President Director, Tedy Badrujaman, said that:
"This signing of the MoU signing is one of our inorganic growth initiatives in the gold business to provide solid returns to our stakeholders. This is also one of our risk diversification measures to ensure gold feed to be further processed as well as providing synergy with our London Bullion Market Association accredited Precious Metals Processing and Refinery Business Unit. Supported with our competency and experience in gold and precious metal business, the cooperation provides bright future to the company. "

The MoU also provides that ANTAM intends to have an option to purchase, process and/or market an agreed amount of refined precious metal products that will be produced by the project.

As at the end of February 2016, ANTAM has sold more than 2 tons of gold. In 2015, the gold sales reached Rp 7.31 trillion or a 49% increase over 2014. Supported by its Pongkor and Cibaliung gold mines as well as the Precious Metal Processing and Refinery Business Unit, ANTAM continues to innovate its gold and precious metal line of business, such as the opening of 13 gold boutiques located in Indonesia’s major cities as well as the launch of gold products with batik motifs.

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