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Indonesia’s Antam revenues surges 99.37% in 2018 on higher gold sales

JAKARTA (RambuEnergy.com) – Indonesia’s state-owned gold and nickel miner PT Aneka Tambang Tbk (IDX:ANTM) booked revenues of RP25.22 trillion in 2018, surged 99.37% from the same period in the previous year of Rp12.65 trillion.

The sales increase was driven by a 66% increase in gold sales, valued at Rp16.69 trillion, compared to Rp7.37 trillion in the previous year.

Last year, the company sold 27,894 kg of gold, surged 111% from the previous year of 13,202 kg. Its Pongkor and Cibaliung gold production reached 9,137.96 kg, up from 5,572.06 kg in the previous year.

“This was a record sales ever achieved by the company,” Antam said.

Meanwhile, ferronickel sales reached Rp4.74 trillion or 18% of total sales in the year, compared to Rp3.22 trillion in the previous year.

Last year, Antam sold 24,135 tons of ferronickel (TNi), up 10% from the previous year of 21,878 TNi. It produced 24,868 TNi in the year, up 14% from the previous year of 21,762 TNi.

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