PT Amman Mineral Internasional Bundle
Who owns PT Amman Mineral Internasional Tbk?
PT Amman Mineral Internasional Tbk (AMMAN) became a publicly traded entity following its substantial IPO on July 7, 2023. This event, the largest in Indonesia for that year, raised approximately IDR 10.73 trillion ($715 million) and broadened its shareholder base.
The company's journey began in September 2015 with the acquisition of PT Newmont Nusa Tenggara, leading to its rebranding as PT Amman Mineral Nusa Tenggara. This foundational step set the stage for its operational focus on copper and gold mining.
Following its IPO, the ownership structure of AMMAN now includes a significant portion held by public shareholders. This transition reflects a strategic move towards greater transparency and broader investment participation. Understanding the key stakeholders is crucial for analyzing the company's strategic direction and future performance, especially in light of its significant copper and gold reserves and its role in the Indonesian mining sector. For a deeper dive into the company's operational context, consider reviewing the PT Amman Mineral Internasional PESTEL Analysis.
Who Founded PT Amman Mineral Internasional?
The ownership of PT Amman Mineral Internasional Tbk was established through a significant acquisition in 2016. The company, initially PT Amman Mineral Internasional (AMI), was founded in September 2015. AMI then acquired an 82.2% controlling stake in PT Newmont Nusa Tenggara, which was later renamed PT Amman Mineral Nusa Tenggara (AMNT), forming the core of the current entity.
| Key Stakeholders in Initial Acquisition | Role |
|---|---|
| Medco Energi Group | Lead investor, diversified into copper and gold mining |
| AP Investment | Collaborating investor, led by investment banker Agus Projosasmito |
| Alexander Ramlie | Co-founder, instrumental in the acquisition |
| State-owned Indonesian Banks (Bank Mandiri, BNI, BRI) | Provided crucial loan financing for the acquisition |
Founding Acquisition
The company's foundation was built on the 2016 acquisition of an 82.2% stake in PT Newmont Nusa Tenggara. This strategic move was valued at US$2.6 billion.
Key Investors
The acquisition was a joint venture between Medco Energi Group and AP Investment. This partnership aimed to expand into the mining sector.
Financing Support
Three major state-owned Indonesian banks provided the necessary financial backing for the landmark deal. This included Bank Mandiri, BNI, and BRI.
Previous Ownership
Before the acquisition, PT Newmont Nusa Tenggara's shares were held by Newmont Mining Corporation and Sumitomo Corporation. A 24% stake was also sold by PT Multi Daerah Bersaing.
Strategic Vision
The acquisition marked a significant diversification for MedcoEnergi. The goal was to solidify its position as a leading energy and natural resource company.
Early Ownership Details
While specific equity splits for individual founders at the 2015 inception are not publicly detailed, control was established through Medco Energi Group and AP Investment.
The acquisition of PT Newmont Nusa Tenggara by PT Amman Mineral Internasional (AMI) in 2016 was a pivotal moment, establishing the company's primary ownership structure. This transaction, valued at US$2.6 billion for an 82.2% stake, was a collaborative effort. Medco Energi Group, led by Arifin Panigoro and his son Hilmi Panigoro, partnered with AP Investment, headed by Agus Projosasmito. Alexander Ramlie also played a crucial role as a co-founder in this acquisition. The financial muscle for this deal came from a consortium of state-owned banks: Bank Mandiri, Bank Negara Indonesia (BNI), and Bank Rakyat Indonesia (BRI). This strategic move allowed MedcoEnergi to diversify its portfolio and strengthen its presence in the copper and gold mining sector, a key aspect of the Growth Strategy of PT Amman Mineral Internasional.
Founding Ownership Structure
The initial ownership of PT Amman Mineral Internasional Tbk was cemented through a major acquisition in 2016. This involved acquiring a controlling stake in PT Newmont Nusa Tenggara.
- The acquisition was completed in 2016.
- An 82.2% controlling stake was acquired.
- The deal was valued at US$2.6 billion.
- PT Newmont Nusa Tenggara was subsequently renamed PT Amman Mineral Nusa Tenggara.
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How Has PT Amman Mineral Internasional’s Ownership Changed Over Time?
The ownership structure of PT Amman Mineral Internasional Tbk saw a significant shift with its Initial Public Offering (IPO) on July 7, 2023. This event on the Indonesia Stock Exchange, under the ticker AMMN, raised IDR 10.73 trillion, approximately $715 million, by issuing 6.32 billion shares. The IPO was met with strong market interest, being oversubscribed by 13.6 times.
| Shareholder | Percentage of Ownership | Number of Shares |
|---|---|---|
| PT Sumber Gemilang Persada | 32.174% | 23,332,191,394 |
| PT Medco Energi Internasional Tbk | 20.915% | 15,167,510,552 |
| PT AP Investment | 15.45% | 11,204,034,620 |
| PT Pesona Sukses Cemerlang | 6.301% | 4,569,377,112 |
| Sajir 9 LLC | 5.794% | 4,201,913,290 |
Following its IPO, PT Amman Mineral Internasional Tbk's major stakeholders include PT Sumber Gemilang Persada with 32.174% of shares, PT Medco Energi Internasional Tbk holding 20.915%, and PT AP Investment with 15.45%. Other significant shareholders are PT Pesona Sukses Cemerlang at 6.301% and Sajir 9 LLC with 5.794%. The company's investor base is further diversified by prominent institutional investors such as The Vanguard Group, Inc., BlackRock, Inc., UBS Asset Management AG, Charles Schwab Investment Management, Inc., and State Street Global Advisors, Inc., underscoring a broad range of Amman Mineral International shareholders.
Key Stakeholders and Strategic Growth
The IPO has provided PT Amman Mineral Internasional Tbk with substantial capital to fuel its strategic growth initiatives. These funds are earmarked for critical projects that will enhance its operational capabilities and market position.
- Capital expenditures for smelter and precious-metal refinery projects in Maluk Village, West Nusa Tenggara.
- Expansion of the company's concentrator plant.
- Development of a new 450 MW combined-cycle gas power plant.
- Strengthening its role as a fully integrated copper producer.
- Enhancing its competitive standing in the global market.
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Who Sits on PT Amman Mineral Internasional’s Board?
The governance of PT Amman Mineral Internasional Tbk is structured with a Board of Directors and a Board of Commissioners, reflecting the influence of major stakeholders and independent oversight. As of June 2025, the Board of Directors is led by President Director Arief Widyawan Sidarto, who assumed the role in June 2025, supported by Directors Aditya Sasmito, David Alexander Gibbs, Naveen Chandralal, and Irwin Wan. Arief Widyawan Sidarto's prior experience as Director of Finance brings significant financial acumen to his leadership.
| Board of Directors (as of June 2025) | ||
|---|---|---|
| President Director | Arief Widyawan Sidarto | Appointed June 2025 |
| Director | Aditya Sasmito | |
| Director | David Alexander Gibbs | |
| Director | Naveen Chandralal | |
| Director | Irwin Wan |
The Board of Commissioners, responsible for strategic guidance and corporate governance, is chaired by President Commissioner Agus Projosasmito, a co-founder of Amman Mineral through AP Investment. Other members include co-founder and former President Director Alexander Ramlie, M. Teguh Pamuji, and Independent Commissioners Markus Permadi and Teguh Boentoro, who also chairs the Audit Committee. This composition highlights a direct link between ownership interests, particularly from PT AP Investment, and the company's strategic direction, contributing to a clear understanding of Amman Mineral ownership.
Key Shareholders and Voting Influence
PT Amman Mineral Internasional Tbk's voting power is primarily distributed through common shares, as established during its 2023 IPO. Major shareholders like PT Sumber Gemilang Persada, holding 32.174%, PT Medco Energi Internasional Tbk with 20.915%, and PT AP Investment at 15.45%, wield significant influence over corporate decisions. The company's annual General Meeting of Shareholders in June 2024 saw a quorum of 95.57% of voting shares, demonstrating robust shareholder engagement in approving matters such as director and commissioner remuneration.
- PT Sumber Gemilang Persada: 32.174%
- PT Medco Energi Internasional Tbk: 20.915%
- PT AP Investment: 15.45%
- Shareholder participation in RUPS: 95.57%
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What Recent Changes Have Shaped PT Amman Mineral Internasional’s Ownership Landscape?
Over the past few years, PT Amman Mineral Internasional Tbk has seen significant changes in its ownership and strategic direction. These shifts are largely attributed to its 2023 initial public offering and ongoing expansion initiatives, which have attracted both domestic and international investors.
| Development | Details | Date/Period |
|---|---|---|
| Share Buyback | Authorized plan amounting to IDR 835,000 million | Ongoing, with lock-up ending June 28, 2024 |
| Management Stock Option Plan (MSOP) | Issuance of up to 602,336,000 new shares (0.83% of post-IPO capital) | Exercise period: October 5 - November 15, 2023 |
| Leadership Transition | Arief Widyawan Sidarto appointed President Director, succeeding Alexander Ramlie | June 2025 |
| Vertical Integration Investment | Copper smelter and precious metal refinery facilities | Scheduled to commence operations by end of 2024 |
| Capacity Expansion | Concentrator plant expansion and new 450 MW power plant | Ongoing |
The ownership landscape of PT Amman Mineral Internasional Tbk has been shaped by its public listing and strategic growth phases. The company has actively managed its capital through a share buyback program and has also implemented a Management Stock Option Plan to incentivize its leadership team. These actions reflect a dynamic approach to corporate governance and shareholder value creation.
Institutional Investor Interest
Major global asset managers, including The Vanguard Group and BlackRock, Inc., have acquired substantial stakes. This increased institutional ownership highlights growing confidence in the company's position within the critical minerals sector.
Strategic Vertical Integration
The company is making significant investments in its copper smelter and precious metal refinery. These facilities are expected to begin operations by the end of 2024, enhancing its value-addition capabilities.
Financial Performance and Market Position
For the nine months ending September 30, 2024, the company reported revenue of USD 2,494.57 million and a net income of USD 717.11 million. Its growing prominence is further evidenced by its ranking in the 2025 Fortune Indonesia 100 list.
Leadership and Operational Focus
Arief Widyawan Sidarto assumed the role of President Director in June 2025, following Alexander Ramlie's transition to a Commissioner. The company's strategic focus remains on development, expansion, and productivity increases, aligning with its Marketing Strategy of PT Amman Mineral Internasional.
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