History
PT Alamtri Minerals Indonesia Tbk (previously named PT Adaro Minerals Indonesia Tbk) ("AMI" or "the Company") was established as PT Jasapower Indonesia in 2007. On January 3, 2022, AMI was officially listed on Indonesia Stock Exchange under the ticker code ADMR following a successful IPO process that was 179x oversubscribed during the pooling period. The listing was a milestone for AMI to develop its businesses by capitalizing its existing resources in metallurgical coal mining and capturing the opportunities offered by the growing green ecosystem in Indonesia. Being a subsidiary of PT Alamtri Resources Indonesia Tbk, AMI is a part of a well-known Indonesian mining and energy group that has strong access to business expertise and financing sources.
Through its subsidiaries, AMI holds five Coal Contracts of Work (CCoWs) for concession areas containing large metallurgical coal resources and reserves in East Kalimantan and Central Kalimantan province. AMI’s metallurgical coal products under the brand name of Enviromet have been warmly welcomed by most international steel producers and are increasingly gaining stronger recognition in the global market.
In 2022, AMI made another milestone by venturing into mineral processing business through its subsidiary PT Kalimantan Aluminium Industry, which is now focusing on a project to build an aluminium smelter in the Kalimantan Industrial Park Indonesia industrial park in North Kalimantan. At its initial stage, this project is expected to produce aluminium ingot of around 500,000 tonnes/year, which can be expanded up to 1.5 million tonnes/year. The mineral processing segment is part of the company’s initiatives to contribute to and capture the opportunities from Indonesia’s green economy and downstream businesses being massively developed by the Indonesian government.
MILESTONE
AMI was established under the name PT Jasapower Indonesia.
AlamTri acquired a 25% ownership stake in PT Lahai Coal, PT Maruwai Coal, PT Sumber Barito Coal, PT Kalteng Coal, and PT Juloi Coal.
Through PT Lahai Coal, AMI commenced production of high-quality Semi Soft Coking Coal (SSCC) from the Haju mine, with an initial production of 0.1 million tons.
AlamTri acquired the remaining shares in PT Lahai Coal, PT Maruwai Coal, PT Sumber Barito Coal, PT Kalteng Coal, and PT Juloi Coal, thereby holding a 99% ownership stake in each of these subsidiaries.
Through PT Maruwai Coal, AMI commenced the production of Hard Coking Coal (HCC) branded as Lampunut Hard Coking Coal.
PT Maruwai Coal made its first shipment of Lampunut Hard Coking Coal.
- The company changed its name from PT Jasapower Indonesia changed its name to PT Adaro Minerals Indonesia Tbk.
- Through its subsidiary, PT Alam Tri Daya Indonesia, AMI acquired a 99% ownership stake in PT Lahai Coal, PT Maruwai Coal, PT Sumber Barito Coal, PT Kalteng Coal, and PT Juloi Coal from AlamTri.
- On January 3, 2022, AMI marked its first trading day on the Indonesia Stock Exchange (IDX) after successfully conducting an initial public offering (IPO) of 16.16% of its total shares to the public. The IPO raised a total of IDR639 billion (US$44.7 million) and was oversubscribed up to 179 times during the pooling period.
- In October 2022, AlamTri streamlined its businesses into three pillars of growth: Adaro Energy, Adaro Minerals, and Adaro Green. AMI leads the Adaro Minerals pillar by managing and coordinating all mineral related businesses within the AlamTri Group. This new structure will enable AlamTri to capture opportunities across the energy and minerals ecosystem and ensure business sustainability.
- On November 11, 2022, PT Alamtri Baterai Indonesia (previously known PT Adaro Baterai Indonesia) was established and subsequently acquired PT Alamtri Indo Aluminium (previously known as PT Adaro Indo Aluminium).
- AMI participated in the issuance of new shares of PT Alam Tri Cakra Indonesia (ATCI), thereby now holding 90.84% ownership of ATCI shares. This is a strategy to develop the company’s corporate structure in support of its future expansion plans.
- In the second quarter of 2023, PT Kalimantan Aluminium Industry secured funding for its aluminium smelter, which will initially have a production capacity of 500,000 tons of aluminium ingots per year, with plans to expand to 1.5 million tons per year at full capacity.
PT Adaro Mining Technologies and PT Alam Tri Abadi (currently named PT Adaro Andalan Indonesia Tbk) 15.29% ownership on AMI was acquired by AlamTri. Following this acquisition, AlamTri has owned a stake in AMI by 83.84%.
