Amman Allocates Capex of $3.48 Billion Until 2025

So far, AMMN has expended at least $358 million of its total annual budget of $469 million. The largest allocation from the total capex is directed to expanding the company’s processing plant.

Ibeth Nurbaiti

30 Okt 2023 - 17.06
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Amman Allocates Capex of $3.48 Billion Until 2025

Construction progress of the smelter factory of PT Amman Mineral Nusa Tenggara, a subsidiary of PT Amman Mineral Internasional Tbk. (AMMN)./Bisnis/Credit: Amman Mineral.

Bisnis, JAKARTA — PT Amman Mineral Internasional Tbk. (AMMN) has allocated a capital expenditure (capex) budget of $3.483 billion for expansion, development, and improvement of supporting facilities for mining activities over the next 3 years.

The total capex requirement of $3.483 billion from 2023 to 2025 is divided into $3.418 billion for expansion and $615 million for sustaining.

Gradually, the company has already disbursed around $132 million in the first half of 2023. Meanwhile, the capex requirement for this year is budgeted at $1.416 billion. For the subsequent years, the total allocated capex for the company will decrease to $1.311 billion in 2024 and further decrease to $756 million in 2025.

Alexander Ramlie, President Director of PT Amman Mineral Internasional Tbk., revealed that the majority of the allocated capex is primarily used for expanding the company’s ore processing plant. So far, the company has spent at least $358 million out of the budgeted $469 million for this year.

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Amman Allocates Capex of $3.48 Billion Until 2025

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