PT Amman Mineral Internasional Tbk. (AMMN) estimates that the company's gold production volume in 2025 will drop in line with the transition of mining from phase 7 to phase 8.Throughout 2024, AMMN realized gold production of 802,749 ounces or an increase of 73% compared to the previous year of 463,467 ounces."For 2025, we anticipate concentrate production of 430,000 dry tons projected to contain 228 million pounds of copper and 90,000 ounces of gold," AMMN management wrote in an official statement, quoted Friday (4/4/2025).AMMN management explained that the lower metal production this year was due to the company shifting from fresh ore mining in phase 7 to overburden material mining in phase 8. The ore processed will mostly come from stockpiles and low-grade fresh ore from the outer ring of phase 8. This ore is estimated to have lower copper and gold grades than the base ore located at the base of the phase 7 and phase 8 mines.“When we reach the phase 8 ore core in 2026, metal production will increase significantly and is expected to exceed historical performance.” In terms of financial performance, Amman Mineral Internasional posted a net profit attributable to owners of the parent entity of USD 636.89 million in 2024, jumping 152.59% year on year (YoY) compared to a profit of USD 252.14 million in 2023.Amman Mineral President Director Alexander Ramlie explained that AMMN's achievements in 2024 exceeded expectations. AMMN recorded significant increases in mine productivity and copper, gold and concentrate production, exceeding performance guidance of 6%, 7% and 6% respectively."2024 marks a milestone for gold production at Batu Hijau, largely driven by high-grade ore from phase 7 and a relentless focus on efficiency that continues to maintain AMMAN's position as one of the world's lowest-cost copper producers," Alexander said in a written statement on Thursday (20/3/2025).
Source https://djakarta-miningclub.com