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Indonesia’s Antam targets ferronickel output to rise 21% in 2019

 

Ferronickel smelter plant of Aneka Tambang in East Halmahera, Maluku. Recently, Director General for Minerals and Coal Bambang Gatot Aryono visited the smelter plant (Photo: ESDM)

JAKARTA (RambuEnergy.com) – PT Aneka Tambang Tbk (IDX:ANTM; ASX:ATM), a state-owned gold and nickel producer has set a target to boost its ferronickel production to rise by 21% in 2019 from realized 24,868 TNi in 2018.

The company also expects its mineral product sales, such as ferronickel, gold, nickel ore and bauxite to rise significantly this year.

The higher target is in line with the company’s strategy to increase the utilization of its Ferronickel smelter in Pomalaa as well as the expected completion of its ferronickel smelter in East Halmahera, Maluku in the second half of 2019.

In a statement, Antam targets its ferronickel sales to hit 30,280 TNi this year, surges 25% from realized ferronickel sales of 24,135 TNi last year.

Its gold production is also projected to increase in 2019, totaling 2,036 kg (65,458 troy oz (t.oz) from Pongkor and Cibaliung gold mining sites. Its gold sales are also expected to hit 32,036 kg (1,029,981 t.oz), up 14% from 27,894 kg (896,812 t.oz) in 2018.

“In 2019, we are targeting operational performance through production and sales to increase,” Antam President Director Arie Prabowo Ariotedjo said.

He added the company will maintain low production costs in line with the commitment of Antam to provide positive values to the shareholders and stakeholders.

“We are confident the company will grow sustainably in the future,” Arie Prabowo added.

The company its nickel ore production to hit 10.50 million WET metric tons (wmt) this year, up 12% form last year, totaling 9.32 million WET. The nickel ore will be used as raw materials to produce ferronickel.

Aneka Tambang targets its nickel ore sales to reach 8 million wmt this year compared to 6.33 million wmt in previous year.

The company alos targets bauxite production to reach 3.17 million wmt in 2019, surged 188% from last year’s realized production. As for sales, the company targets sales to reach 920,000 wmt this year.

Written by Staff Wither
Edited by Roffie Kurniawan

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