Tuesday, 18 February 2020 | 20:27 WIB

Antam’s Nickel Production Soars 107 Percent in Q1

PT Aneka Tambang.

JAKARTA, NNC - PT AnekaTambang Tbk achieved positive operational performance and sales of key commodities in the first quarter of 2018. The company recorded ferronickel production volume of 6,088 tons of nickel in ferronickel (TNi), up 107 percent from the first quarter of 2017 achievement of 2,934 TNi.

In line with production volume growth, ferronickel sales in the first quarter of 2018 grew 109 percent compared to the first quarter of 2018 or 5,363 TNi in line with the growth of ferronickel demand for the company.

For gold commodities, in Q1of 2018 the total gold production volume from the Pongkor and Cibaliung mines reached 539 kg with gold sales volume reaching 6,945 kg or an increase of 226 percent compared to the first quarter of 2017 achievement of 2,127 kg. This is in line with the strategy of development of gold market both domestic and export and innovation of ANTAM Precious Metals products.

ANTAM's President Director Arie Prabowo Ariotedjo explained that the performance and sales growth is in line with efforts to strengthen the financial structure and provide a positive return to shareholders through improved production and sales of key commodities by keeping production cash costs low.

"These efforts serve as the basis for ensuring long-term profitability," Arie said, Wednesday (4/11/2018).

In March 2018, the company obtained the Renewal of Metal Minerals Export Approval for the export sale of low grade nickel ore (<1.7 percent Ni) of 2.7 million wmt and washed bauxite ore with ≥42 percent Al2O3 of 840 thousand wmt from the Ministry of Energy and Mineral Resources (ESDM) for the period of 2018-2019.

In 2017, ANTAM has received a recommendation of low grade nickel ore exports totaling 3.9 million wmt of 2.7 million wmt obtained in March 2017 and 1.2 million wmt acquired in October 2017. While the ore export recommendation washed bauxite was obtained in the period of March 2017.

In the first quarter of 2018, ANTAM's nickel ore production volume reached 2.11 million wmt, an increase of 301 percent with sales reaching 1.15 million wmt, a significant growth of 2,171 percent compared to quarter nickel ore sales I 2017 of 50,500 wmt.

In addition, bauxite commodity stream activity contributed positively to the first quarter of 2018. Bauxite production volume was 200,300 wmt, grew by 116 percent with sales volume reaching 61,380 wmt, up 37 percent compared to the first quarter of 2017.