State-owned diversified mining company PT Aneka Tambang (Antam) has seen its gold sales drop by 48.29 percent to 2,788 kilograms in the first half of 2017, compared to 5,392 kilograms in the same period last year, due to technical problems in its smelting facility.
Antam has seen a decline in its first-half gold sales for two years in a row. In the first half of 2015, Antam’s sales were recorded at 10,996 kilograms.
"We had problems in our gold smelting in the beginning of 2017," Antam corporate secretary Aprilandi Hidayat Setia said during a public expose at the Indonesia Stock Exchange (IDX) building in Jakarta on Monday.
Gold traditionally contributes to 70 percent of Antam’s sales.
However, the company has seen an increase in its sales of other minerals. Ferronickel sales increased by 15.26 percent year-on-year (yoy) to 9,327 tons in the first half of 2017, compared to 8,092 tons in same period last year. Bauxite sales also increased by 12.51 percent to 128,232 metric tons, compared to 113,972 metric tons in 2016.
The company obtained in May a one-year license to export 2.7 million tons of nickel ore from the Energy and Mineral Resources Ministry. It has since exported 275,513 tons of nickel ore.
"As the demand for nickel or is high from Japan, China and Eastern Europe, we are in the process of boosting our export quota to 3.7 million tons. We have already appointed an independent verifying firm for the process," said Antam finance director Dimas Wikan Pramudhito. (bbn)
Source: Anton Hermansyah / The Jakarta Post
7 August 2017