JAKARTA – PT Amman Mineral Internasional Tbk (AMMN) posted stellar performance throughout 2024 compared to 2023. Sales growth was supported by increased production of copper, gold, and concentrate.

Alexander Ramlie, President Director of AMMN, stated that the company’s performance exceeded expectations, with copper, gold, and concentrate production surpassing the performance guidance by 6%, 7%, and 6%, respectively.

“This year marks a golden milestone at Batu Hijau, largely due to the high-grade ore from phase 7, as well as efficiency, making the company one of the lowest-cost copper producers in the world,” he said in a press release on Thursday (20/3).

Copper production increased by 27% to 395 million pounds, with sales volume at 288 million pounds. Gold production rose by 73% to 802,749 ounces, with sales volume at 611,262 ounces, and concentrate production increased by 39% to 755,083 metric tonnes, with sales volume at 570,837 dry metric tonnes.

Arief Sidarto, Chief Financial Officer of AMMN, reported that the company’s net sales reached USD 2.66 billion, up 31% from USD 2.03 billion in 2023. EBITDA also grew by 40%, reaching USD 1.42 billion, with a margin of 54%. Meanwhile, net profit surged by 148% to USD 642 million, up from USD 258.8 million.

“We are proud of the achievements in 2024 and remain committed to realising sustainable growth, maintaining financial discipline, and creating long-term value through operational excellence, cost efficiency, and strategic investments,” he said. (LK/ZH)