Amman Mineral swings to US$880 million profit in first nine months of 2026

PT Amman Mineral Internasional Tbk. (AMMN) reported a net profit of US$880 million for the nine months ended 30 September 2026, reversing a US$175 million loss a year earlier. In a statement dated 30 October, the Indonesian miner attributed the turnaround to higher net sales.

Revenue increased 494% year on year to US$3.24 billion. Copper cathode sales contributed US$1.38 billion, refined gold US$772 million and concentrate US$1.08 billion. The company reported a net profit margin of 27%, while EBITDA reached US$1.83 billion with a margin of 57%, compared with EBITDA of US$279 million a year earlier.

Concentrate output climbed 87% year on year to 580,713 dry metric tonnes. Copper production rose 129% to 332 million pounds, while gold output increased 616% to 541,337 ounces. During the nine-month period, Amman's smelter and PMR produced 102,783 tonnes of copper cathodes, equivalent to 227 million pounds, and 296,897 ounces of refined gold.

The company mined 190 million tonnes of material during the first nine months of 2026. Capital expenditure in the third quarter fell 84% year on year to US$170 million, from US$1.06 billion.

Total debt stood at US$5.6 billion on 30 September, down 13% from 31 December 2025 following repayments of US$865 million since the start of the year. Consolidated cash and cash equivalents were US$570 million, with net debt declining to about US$5 billion.