Aneka Tambang (ANTM) Ready to Boost Production This Year

April 19, 2024, 09.15 AM  | Reporter: Sabrina Rhamadanty
Aneka Tambang (ANTM) Ready to Boost Production This Year

ILUSTRASI. The logo of PT Aneka Tambang is displayed at the company's gold mine in Pongkor, West Java, Indonesia, on Thursday, Jan. 28, 2010. Gold fell and is heading for its second monthly decline as the dollar's advance reduced the metal's appeal as an alternative investment. Photographer: Dimas Ardian/Bloomberg

LISTED COMPANY - JAKARTA. This year, PT Aneka Tambang Tbk (ANTM) is set to enhance the production and sales performance of all its core commodities. This move comes as the company remains optimistic about the resurgence of gold demand in Indonesia by 2024, along with other commodities. 

“ANTAM is focusing on a customer-based development strategy domestically, particularly for nickel ore and bauxite products. We remain optimistic that gold demand in Indonesia will rebound in 2024 and will likely remain stable for several years to come,” revealed Nicolas D. Kanter, CEO of ANTM, in the ANTM 2023 annual report, quoted on Thursday (18/04).

He added that ANTM is also committed to continuously developing strategic projects as a form of support for mineral downstreaming and to maintain a focus on sustainable business practices.

For ferronickel products, ANTM is targeting a production and sales volume of 22,464 TNi each this year. The ferronickel production target represents a 5% growth from the 2023 ferronickel production achievement of 21,473 TNi, while the ferronickel sales target represents a 12% growth from the 2023 ferronickel sales achievement of 20,138 TNi. 

“ANTAM has taken into account the utilization rate and the stability of the ANTAM ferronickel plant operations in Kolaka, Southeast Sulawesi in setting the ferronickel production and sales targets,” he disclosed.

For nickel ore commodities, in 2024, ANTM is targeting a total nickel ore production used as raw material for the ANTAM ferronickel plant and sales to domestic customers of 20.58 million wmt, a 53% growth from the 2023 nickel ore production achievement of 13.45 million wmt. 

Nickel ore sales in 2024 are targeted to reach 18.75 million wmt, a 60% growth from the 2023 nickel ore sales achievement of 11.71 million wmt. 

In the precious metals segment, in 2024, ANTAM will continuously innovate its products and precious metal sales services. ANTAM is targeting a 2024 gold production from the Pongkor gold mine of 958 kg (30,800 troy oz). 

Meanwhile, gold sales in 2024 are targeted to reach 37,354 kg (1,200,959 troy oz), a 43% increase from the 2023 gold sales achievement of 26,129 kg (840,067 troy oz). This is in addition to the planned production and sales targets for silver metal, each amounting to 5,668 kg (182,230 troy oz).

In the bauxite and alumina segment, following the imposition of a bauxite ore export ban in 2023, ANTAM will focus on developing bauxite ore sales in the domestic market. 

For bauxite ore commodities, the company is targeting a 2024 production volume of 3.47 million wmt, in line with the bauxite needs of the Chemical Grade Alumina (CGA) Tayan plant and projected bauxite ore sales to third-party customers. 

This production target represents a 72% growth compared to the 2023 bauxite production achievement of 2.01 million wmt. 

Regarding bauxite ore sales, ANTAM is targeting a sales level of 3.05 million wmt, a significant 103% increase compared to the 2023 bauxite sales achievement of 1.50 million wmt.

“Overall, the operational targets set by the Company for 2024 are dynamic and open to adjustment in line with market absorption levels and commodity prices in both the domestic and global markets,” said Nicolas.

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Editor: Syamsul Azhar

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