Copper Giant Amman Mineral Rejects Hong Kong Dual-Listing Rumors as Stock Surges

JAKARTA, Investortrust.id — PT Amman Mineral Internasional Tbk (AMMN), one of Indonesia’s primary copper and gold producers, has formally denied market rumors suggesting it is planning a dual listing on the Hong Kong Stock Exchange.

The firm's Chief Executive Officer, Arief Widyawan Sidarto, addressed the speculation in an official regulatory filing submitted to the Indonesia Stock Exchange (IDX) on Thursday, July 16, 2026. He emphasized that the industrial giant remains strictly focused on its pre-existing corporate pipeline.

For global commodities investors, Amman Mineral is a critical barometer of Southeast Asia’s industrial metal output. The company operates the Batu Hijau mine, the second-largest copper and gold mine in Indonesia, and is aggressively ramping up its domestic refining infrastructure. A secondary listing in Hong Kong would have opened the floodgates for East Asian capital, but the company's firm denial signals that it is confident in its domestic capital base and current balance sheet liquidity.

Pure Media Speculation

The regulatory clarification came after the IDX issued a formal inquiry to Amman Mineral on Wednesday, July 15, 2026, demanding the company verify the escalating regional press reports. Management acted swiftly to quell the rumors before local trading commenced.

"The company hereby states that the information reported in the mass media articles is speculative in nature," CEO Arief Widyawan Sidarto noted in the written disclosure on July 16, 2026. "As of the date of this letter, AMMN’s focus is strictly on executing our established business strategy and creating sustainable, long-term value for our shareholders."

The miner further confirmed that it has not withheld any material corporate actions or operational events that could artificially distort its ongoing business viability or trigger unexpected stock price volatility.

"Until the date of this letter, there is no other important information or events that the company deems material and could affect the company’s survival or stock price that has not been disclosed to the public," Arief stated.

Market Response

Public investors appeared unfazed by the strategic denial, choosing instead to focus on the company's underlying fundamentals. Shares of AMMN closed up 4.26% on Thursday, July 16, 2026, finishing the session at Rp3,920 ($0.25) per share.

The single-day jump caps off an impressive trading block for the copper player. Over the last seven days, the stock has rallied 13.52%, driven primarily by bullish projections for its newly constructed domestic copper smelter, which is tipped to produce 162,000 metric tons of copper cathodes by the end of 2026.