Cedrus Investments, PT Antam sign agreement on mineral project developments

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JAKARTA (rambuenergy.com) – Cedrus Investments (Cedrus), a global investment firm, signs a collaboration agreement with Indonesia’s nickel and gold producer PT Aneka Tambang Tbk (Antam) to develop various mineral projects in Indonesia.

Based on the collaboration agreement between PT Antam  and Cedrus, PT Antam will provide Cedrus with access to its minerals, including nickel ore, ferronickel, gold, silver, bauxite and coal, as well as services related to the logistics, operations, infrastructure, and equipment needed to successfully run a mining operation, Cedrus said in a statement.

Cedrus will utilize this unique relationship to pursue mining opportunities for its own direct proprietary investments and offer its corporate clients from the Greater China region and around the world access to PT Antam’s valuable assets and comprehensive services.

In addition, this agreement positions Cedrus to be very active in financing and developing some of  Antam’s important strategic projects. As such, Cedrus will select those opportunities that produce true win-win results for Cedrus, its clients, PT Antam and the local people of the Republic of Indonesia alike, Cedrus said.

PT Antam processes a number of minerals as well as operating other businesses including trade, transportation and other services related to the mining sector. The company undertakes all activities from exploration, excavation, processing through to marketing of a wide range of minerals and holds vast licensed exploration areas along with well-known large holdings of high quality reserves and resources.

Antam’s among major projects to be developed going forward is smelter grade alumina (SGA) project in Mempawah, west Kalimantan with estimated investment of US$1.7 billion. The smelter is designed to have a capacity of 1.6 million tons of grade alumina per annum.

The company is also planning to develop Mandiodo nickel pig iron (NPI) in Konawe, Southeast Sulawesi with project capacity of 24,000 TNi per annum. Antam aims to start commissioning of the project in 2018.

The other project being developed is the ferronickel (FeNi) project in Buli, East Halmahera, North Maluku with estimated investment of US$1.6 billion, including power plant. The project is designed to have capacity of 27,000 tons of Ni per annum. The project construction has started and expected to start commissioning later this year.

“I am delighted to collaborate with PT Antam  on this exciting endeavor. Since we opened an office in Jakarta in 2012, our goal has been to be the trusted partner for both in-bound and out-bound investment activities between Indonesia and investors worldwide,” Cedrus Investments’ Chairman Rani Jarkas said.

“Over the past several years, our clients, particularly those in China and the Middle East and North Africa (MENA) region, have shown significant interest in exploring investment opportunities in Indonesia. Our collaboration with PT Antam is the latest example of how we offer our clients entrée to unique business and investment opportunities,” Jarkas added. (*)