TEMPO.CO, Jakarta - State mining company Aneka Tambang or Antam (IDX: ANTM) has obtained US$129mn worth of investment loans from Bank Mandiri (IDX: BMRI). The credit will be used to finance Antam's previous investment loan, which matures in June 2024.
The loan facility agreement was signed on Wednesday, September 18.
"With the company's increasingly solid financial growth rate, ANTM obtained an investment loan facility with a more competitive interest rate, which will reduce the company's financial burden," Antam president director Arie Prabowo Ariotedjo said in an official statement, Wednesday.
The loan agreement signifies state banks' support for programs and projects being taken by ANTM.
Among the projects Antam is working on is the development of the East Halmahera Ferronickel Plant in North Maluku. Once completed, the facility will have an installed capacity of 13,500 tons of nickel in ferronickel per year.
Antam is also constructing a Smelter Grade Alumina Refinery (SGAR) in Mempawah, West Kalimantan, in collaboration with Indonesia Asahan Aluminum (Inalum).
Arie Prabowo said the company focuses on developing downstream core commodities that are based on nickel, gold and bauxite.