PT Amman Mineral Internasional Tbk (AMMN), reported the realization of capital expenditure (capex) up to the third quarter of 2023, amounting to USD 480 million or approximately IDR 7.5 trillion. This figure represents a significant increase of 119% compared to the same period in 2022.
The company's capital expenditure budget is allocated for the procurement of mining equipment, the construction and enhancement of supporting facilities for ore mining in Phase 7, and overburden removal in Phase 8, with sustaining capex amounting to USD 110 million or IDR 1.72 trillion.
Additionally, capital expenditure for the smelter is USD 137 million or IDR 2.15 trillion for the expansion of the concentrator plant, USD 138 million or IDR 2.17 trillion for the Gas and Steam Power Plant (PLTGU), and LNG facilities amounting to USD 94 million or IDR 1.47 trillion.
"The mining and infrastructure projects of Amman Mineral are progressing according to schedule. The cumulative capital expenditure is USD 476 million for the copper smelter and PMR projects, each reaching completion at 67.1% and 65.4%, respectively, as of September 30, 2023," said AMMN President Director Alexander Ramlie in his official statement on Monday (6/11/2023).
He mentioned that the construction progress of the copper smelter project exceeds the government-approved target of 66.9%. Furthermore, the company's concentrator plant expansion project has spent USD 497 million of the capital expenditure budget.
"As for the PLTGU and LNG facilities, capital expenditures amounted to USD 251 million until September 2023," added Alexander.
Meanwhile, AMMN recorded a decline in net profit in the first nine months of this year. The company's profit as of September 2023 was recorded at USD 62.67 million or IDR 995.46 billion, down 91.57% from the same period the previous year of USD 744.09 million.
The decrease in the company's profit corresponds to a 41.79% decline in net sales to USD 1.15 billion or IDR 18.27 trillion, down from the previous USD 1.97 billion. Specifically, gold sales were recorded at USD 453.68 million or IDR 7.20 trillion, and copper sales amounted to USD 697.07 million or IDR 11.07 trillion.
The decline in company sales was attributed to the delayed extension of export permits from April 1 to July 23, 2023. After obtaining the export permit on July 24, 2023, the company accelerated concentrate shipments in the third quarter of 2023 to recover lost sales.
Image source: EmitenNews.com
Source: www.emitennews.com/Capex Amman Mineral (AMMN) Terserap Rp7,5 Triliun, Ini Rincian Realisasinya
