Indonesia’s Amman Mineral said to consider Hong Kong listing

Published Fri, Jul 10, 2026 · 07:19 PM

[JAKARTA] One of Indonesia’s biggest copper and gold producers, PT Amman Mineral Internasional, is considering a second listing in Hong Kong, according to people familiar with the matter.

Amman Mineral, which trades in Jakarta, is seeking to hire banks to work on the Hong Kong offering, the people said, asking not to be identified because the deliberations are private. Details including the size and timing of a potential listing are under discussion, they said. 

If it proceeds, Amman Mineral would be following fellow miner PT Merdeka Gold Resources, whose shareholders in June sold about US$304 million of Hong Kong depositary receipts at the maximum price offered. 

A spokesperson for Amman Mineral declined to comment. 

While Hong Kong’s stock market has lagged this year, it’s been a busy venue for first-time share sales, with nearly US$35 billion raised. That includes this week’s US$3.1 billion listing by Apple supplier Luxshare Precision Industry. 

Amman Mineral listed in Jakarta in July 2023. Its shares have slumped 45 per cent this year, leaving it with a market value of about US$14 billion. Merdeka Gold’s market capitalisation is roughly US$4.5 billion. Amman Mineral’s first-quarter net income was about US$160 million, reversing a US$139 million loss a year earlier. The company’s core assets include the Batu Hijau mine and Elang project. BLOOMBERG