JAKARTA. Capital expenditure (capex) realisation of PT Amman Mineral Internasional Tbk (AMMN) at the end of the first half of 2023 had reached USD 436 million. For the second half, the capex is projected to reach USD 980 million, thus bringing the total capex this year to USD 1,416 million.

Alexander Ramlie, President Director of AMMN, said that the capex utilisation of AMMN was directed to the purchase of mining and construction equipment, as well as improvement of supporting facilities for ore mining phase 7 and overburden removal phase 8, a sustaining capex that amounts to USD 132 million. Then, expansion of processing plant takes up USD 166 million, while the capex spent for combined cycle power plant (CCPP) and liquefied natural gas (LNG) facility amounts to USD 46 million. Lastly, the capex for smelting facility amounts to USD 92 million.

According to Ramlie, the realisation of capex in the first half of 2023 was 40% higher than the same period last year, only reaching up to USD 312 million. 

Ramlie further explained that sustainable capex (including one-time expenses) is projected to reach USD 332 million this year. Then, capex set for smelting and precious metal refinery plants is USD 365 million, for processing plant expansion of another USD 469 million, and for CCPP and LNG facility of USD 226 million. 

Ramlie also revealed that the progress of the construction of smelting and precious metal refinery plants of AMMN had reached 58.5% and 59.8%, respectively, until May 2023. The mechanical completion is also set to complete by May 2024. (AM/ZH)