NFC Secures $429 Million Contract for Indonesian Copper Project Expansion

China Nonferrous Metal Industry's Foreign Engineering and Construction (NFC) has announced that its local unit has secured a contract worth $429 million to expand a copper ore processing project in Indonesia. The agreement involves engineering, procurement, and construction services and was signed with Amman Mineral Nusa Tenggara.

The project is set to span 16 and a half months, during which the necessary equipment will be purchased and installed. This expansion is part of a larger effort by Amman Mineral Nusa’s sister company, Amman Mineral Industri, which is constructing a new smelting facility on Sumbawa Island in Indonesia's West Nusa Tenggara province. The plant will have the capacity to process 900,000 tons of copper concentrate annually. Amman Mineral Nusa operates the Batu Hijau mine, Indonesia’s second-largest copper-gold mine.

Previously, in December 2021, NFC and Amman Mineral Industri signed two major contracts: a $554 million agreement for smelting equipment supply and a $354 million contract for smelter design and engineering construction.

NFC specializes in providing engineering contract services for non-ferrous metal mining and processing projects across central and northern Asia, Southeast Asia, and central and southern Africa. According to NFC's annual financial report, the company generated revenue of CNY 4 billion ($550 million) from these activities last year, which constituted 43 percent of its total income.