Remarks of President of the Republic of Indonesia at the Inauguration of Copper Smelter and Precious Metal Refinery PT Amman Mineral International Tbk, in West Sumbawa Regency, West Nusa Tenggara Province, 23 September 2024

Bismillahirrahmanirrahim,

Assalamualaikum warahmatullahi wabarakatuh,

Good morning,

May prosperity be upon us all.

Distinguished Minister for State-Owned Enterprises, Minister for Energy and Mineral Resources;

Distinguished Governor of West Nusa Tenggara Province, Regent of West Sumbawa Regency;

Distinguished President Commissioner of PT Amman Mineral, President Commissioner of PT Amman Mineral Internasional and all Directors;

Ladies and Gentlemen.

We know that 56 percent of our economic GDP is based on domestic consumption. This must be changed. Therefore, I am content that this morning, as the owner of the world’s top seven copper reserves, we have entered a new chapter of the copper industry downstreaming. This is our new beginning to become an advanced industrial country by processing our own natural resources.

So, our GDP growth does not rely on consumption anymore, in turn, we rely on production. Rely on consumption, not on production.

We also want the world’s copper product needs in the future to depend on our country Indonesia. Whatever the product is: cathode sheets, cables, copper foil, everything that we can produce here. We are no longer just exporting raw materials.

Alhamdulillah, today we will inaugurate the copper smelter and precious metal refinery of PT Amman with an investment of Rp21 trillion. This is not a small amount of money. This is a very large investment and uses double flash cyclone technology to produce copper cathodes as the main product.

Ladies and gentlemen, can you imagine that mining and processing in Sumbawa carried out by PT Amman processes 900 thousand tons of concentrate per year. Imagine if it is only exported in the form of raw concentrate. We will not get the added value. The added value is in countries that have smelters. So, I really appreciate the courage and good intentions of PT Amman. The new Amman smelter in West Sumbawa will have a production capacity of 220 thousand tons of copper cathode, approximately 18 tons of gold, 55 tons of silver, and 850 thousand tons of sulfuric acid by-product.

I hope that the operation of this smelter can provide as many multiplier effects as possible. Both for the community by increasing employment opportunities and for the Province of West Nusa Tenggara as a whole with the increase in GRDP. I also hope the people of NTB and Indonesia can fully reap the benefits.

By saying bismillahirrahmanirrahim, this morning, I hereby inaugurate Amman Copper Smelter and Precious Metal Refinery.

I thank you.

Wassalamualaikum warahmatullahi wabarakatuh.

(ZIA/AW)