PT Aneka Tambang Tbk, or Antam, said Sept. 18 that it entered into a corporate investment loan agreement with PT Bank Mandiri (Persero) Tbk to refinance the company's US$129 million investment loan, which will mature in June 2024.
The loan will be used to support the company's projects such as the development of the East Halmahera ferronickel plant and the smelter grade alumina refinery development project in Mempawah, both located in Indonesia, as well as the development of PT Indonesia Asahan Aluminium (Persero).
Antam said it is refinancing its current loan with a similar loan provision and a more competitive annual floating interest rate.
In August, Antam reported a 4% yearly fall in second-quarter ferronickel production to 6,486 tonnes of nickel contained in ferronickel, amid the successful ramp-up of the Pomalaa plant to stable operating capacity of 27,000 tonnes per annum.
