KPK: 1 Kg of metal anode turns into only 3 grams of gold in the Montrado Loco Snare Case

Jakarta – The Corruption Eradication Commission is investigating the metal anode processing case between PT Antam and PT Loco Montrado (LCM). The Corruption Eradication Commission has revealed the mode of corruption in the case that ensnared Loco Montrado as a corporate suspect. “So in this cooperative processing mode, every 1 kg of metal anode processed by PT LCM is exchanged for about 3 grams of gold,” KPK spokesperson Budi Prasetyo said Thursday (16/10/2025) at the KPK Building, Kuningan, South Jakarta. SCROLL TO CONTINUE CONTENT. Allegedly, Budi said, any processing of metal anodes will also produce silver. In this case, however, there is no silver of any processing. “In fact, in the processing of every kilogram of gold, the output must contain gold and silver. But in the processing carried out by PT LCM, the output does not contain silver,” he said. “Thus, these methods cause losses to government finances of more than IDR 100 billion,” he added. The KPK also questioned four witnesses today. The examination was to examine the role of PT Loco Montrado as a corporation. “In this investigation, investigators are also looking at the roles played by PT LCM as an entity or as a corporation,” he said. The following four witnesses were examined today: 1. Fakhri Reza as a former employee of PT Antam2. Hardianto Tumpak Manurung as a former employee of Antam3. Helminton Jaharjo Sitanggang as former Senior Vice President of Internal Audit Antam4. Ilham Iskandar Siregar as former Manager of Refining UBPP LM PT Antam. In this case, the Corruption Eradication Commission (KPK) named the president director of PT Loco Montrado, Siman Bahar (SB), as a suspect. Siman was charged with section 2 paragraph (1) or section 3 of the law on the eradication of corruption in conjunction with section 55 paragraph (1) 1st of the Criminal Code. In 2025, the Corruption Eradication Commission seized IDR 100.7 billion in cash from Siman Bahar. The money was allegedly obtained through corruption. Before Siman, the Corruption Eradication Commission (KPK) had already taken legal action against a former Antam official named Dody Martimbang. He was sentenced to 6.5 years in prison in a corruption case that cost the state IDR 100.7 billion. Most recently, the Corruption Eradication Commission announced PT Loco Montardo (LCM) as a suspect in corruption in PT Antam Tbk’s metal anode processing. The company was designated as a corporate suspect in this case. (ial/haf)