Who Owns PT Amman Mineral Internasional Company?

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Who Owns PT Amman Mineral Internasional Company?

Understanding PT Amman Mineral Internasional Tbk's ownership is key to grasping its strategic direction. The company's IPO on July 7, 2023, raising about US$710 million, was a major event, making it the largest IPO in Indonesia for 2023.

This significant public offering reshaped the company's ownership structure, introducing a broad base of public shareholders alongside existing stakeholders. As of July 18, 2025, PT Amman Mineral Internasional Tbk had a market capitalization of $35.6 billion with 72.5 billion shares outstanding.

The ownership of PT Amman Mineral Internasional Tbk is primarily distributed among its public shareholders following its Initial Public Offering (IPO). Prior to the IPO, the company was privately held, with significant stakes owned by its founders and early investors. The IPO on July 7, 2023, offered a substantial portion of the company's shares to the public, thereby broadening the ownership base. This event was a landmark for the Indonesian stock market, being the largest IPO in the country for 2023 and the largest in Asia outside of China that year. The company's operations, including its significant Batu Hijau mine and the development of the Elang project, are central to its valuation and investor interest. Analyzing the company's competitive landscape, including factors like those detailed in a PT Amman Mineral Internasional Porter's Five Forces Analysis, provides further context for its market position and ownership dynamics.

PT Amman Mineral Internasional Tbk was established in 2015, with its foundational asset being the significant acquisition of an 82.2% stake in PT Newmont Nusa Tenggara in November 2016 for $2.6 billion. This strategic move positioned the company to operate the Batu Hijau mine, marking a pivotal moment in its ownership history and operational capability.

Founding Entity PT Amman Mineral Internasional Tbk was established in 2015 as a holding company. Key Acquisition Acquired an 82.2% stake in PT Newmont Nusa Tenggara (NNT) in November 2016 for $2.6 billion. Operational Transition NNT was renamed PT Amman Mineral Nusa Tenggara (AMNT) post-acquisition, becoming the operator of the Batu Hijau mine. Joint Venture Partners The acquisition was a joint venture between Medco Energi Internasional and AP Investment. Key Individual Role Alexander Ramlie was a co-founder and instrumental in the NNT acquisition, serving as President Director for nearly a decade. Significant Stakeholders Agus Projosasmito holds a minority stake and is a key backer, alongside Anthoni Salim's substantial indirect stake via the Salim Group.

The early ownership structure of PT Amman Mineral Internasional was shaped by strategic partnerships and significant investments that laid the groundwork for its operations. While specific initial equity splits among individual founders are not publicly detailed, Alexander Ramlie is recognized as a co-founder who played a crucial part in the 2016 acquisition of PT Newmont Nusa Tenggara. His tenure as President Director for almost ten years, followed by a transition to a Commissioner role in June 2025, highlights his enduring influence. Agus Projosasmito, currently the President Commissioner, also maintains a minority stake and is a significant supporter of the company. Furthermore, Anthoni Salim holds a considerable indirect stake through the Salim Group, underscoring the broad base of influential stakeholders involved in the company's formative stages. These early backers and their strategic capital were vital in establishing Amman Mineral's core assets and operational foundation, contributing to its trajectory in the mining sector. Understanding this early ownership is key to grasping the Growth Strategy of PT Amman Mineral Internasional.

Founders and Early Ownership Highlights

The initial phase of PT Amman Mineral Internasional's ownership was characterized by a major acquisition and the involvement of key figures and corporate entities.

• PT Amman Mineral Internasional Tbk was established in 2015.
• A pivotal moment was the 2016 acquisition of an 82.2% stake in PT Newmont Nusa Tenggara for $2.6 billion.
• Alexander Ramlie is identified as a co-founder and was instrumental in this acquisition.
• Agus Projosasmito and Anthoni Salim (through the Salim Group) are significant stakeholders.
• These early investors were crucial in forming the company's operational base.

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The ownership landscape of PT Amman Mineral Internasional Tbk underwent a significant transformation with its Initial Public Offering (IPO) on July 7, 2023. This event saw the issuance of 6.32 billion common shares, representing 8.8% of the company's capital, at IDR 1,695 per share, raising approximately US$710 million.

Following the IPO, the ownership structure shows a diverse group of stakeholders. Sumber Gemilang Persada holds the largest single stake at 32.2%, while PT Medco Energi Internasional Tbk is also a significant shareholder with 20.9%. AP Investment accounts for 15.5%, and the public holds 17.3%. Key individuals like Alexander Ramlie and Agus Projosasmito have substantial interests, and the Salim family, through the Salim Group, also maintains an important indirect holding. The capital raised from the IPO is earmarked for critical expansion initiatives, including 17% for a smelter project, 28% for debt reduction, and the remainder for capital injections into AMNT for ore processing and power plant development.

Key Stakeholders and Financial Performance

Understanding who owns PT Amman Mineral Internasional Tbk involves looking at both corporate entities and influential individuals. The company's financial performance has seen a dramatic improvement, with net income reaching USD 717.11 million for the first nine months of 2024, a substantial leap from USD 62.67 million in the prior year. Revenue for the same period was USD 2,494.57 million, up from USD 1,150.76 million.

• The public holds 17.3% of the company's shares.
• Sumber Gemilang Persada is the largest shareholder with 32.2%.
• PT Medco Energi Internasional Tbk owns 20.9%.
• The IPO proceeds are directed towards expansion and debt repayment.
• Significant individual stakeholders influence the company's direction.
• The company's financial health has seen a marked increase in 2024.

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The strategic direction and governance of PT Amman Mineral Internasional Tbk are overseen by its Board of Directors and Board of Commissioners. As of June 2025, the Board of Directors is led by President Director Arief Widyawan Sidarto, supported by Directors Aditya Sasmito, David Alexander Gibbs, Naveen Chandralal, and Irwin Wan.

The company's corporate structure and decision-making power are significantly influenced by its major shareholders. The General Meeting of Shareholders on June 10, 2024, approved key financial reports and remuneration for the boards. While specific details on voting mechanisms like dual-class shares are not publicly detailed, the substantial stakes held by Sumber Gemilang Persada at 32.2%, PT Medco Energi Internasional Tbk at 20.9%, and AP Investment at 15.5% highlight their considerable voting power. This structure suggests that these entities, particularly Sumber Gemilang Persada, likely hold a controlling interest in PT Amman Mineral Internasional. Understanding these ownership percentages is key to grasping who controls PT Amman Mineral Internasional and its overall Revenue Streams & Business Model of PT Amman Mineral Internasional.

Corporate Governance and Shareholder Influence

PT Amman Mineral Internasional Tbk emphasizes strong corporate governance through dedicated committees. The company's major shareholders wield significant influence over its direction.

• The Board of Directors and Commissioners guide strategic decisions.
• Major shareholders include Sumber Gemilang Persada (32.2%), PT Medco Energi Internasional Tbk (20.9%), and AP Investment (15.5%).
• An Audit Committee and a Nomination & Remuneration Committee are in place.
• Members for these committees were appointed in December 2022.

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In the last few years, PT Amman Mineral Internasional Tbk has undergone significant ownership shifts, notably with its substantial IPO in July 2023. This event opened the company to public investment, altering its shareholder landscape and introducing new dynamics to who owns Amman Mineral Internasional.

The company's strategic direction is underscored by its commitment to long-term shareholder value, as evidenced by the planned share buyback program. This move, funded internally, reflects a strong belief in the company's intrinsic worth, particularly in light of the expanded ore reserves at its Elang deposit. The 2024 JORC report significantly boosted Elang's ore-reserve estimate to 2.5 billion tonnes, containing substantial amounts of copper and gold, which is crucial for understanding the Amman Mineral Internasional ownership structure.

IPO and Public Float

The 2023 IPO was the largest in Indonesia that year, raising approximately US$710 million. This brought public shareholders into the Amman Mineral Internasional ownership, now representing 17.3% of the company.

Share Buyback Initiative

A share buyback of up to US$50 million was announced for April 2025. This action is intended to enhance shareholder value and demonstrates the company's financial strength.

Operational and Financial Growth

The company reported a net income of US$642 million in 2024, a 148% increase year-over-year. Net sales grew by 31% to US$2,664 million, indicating robust operational performance.

Strategic Development and Expansion

Progress on the smelter and refinery facilities is advancing, with the copper smelter at 76.1% completion by December 2023. The company is also securing a $1.5 billion loan for mine expansion, impacting its future operational capacity and financial structure.

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