PT Aneka Tambang Tbk (IDX: ANTM), also know ANTAM, targeting the sales volume of nickel ore rose 104 percent from 3.3 million wet metric tones to 6.71 million wmt in this year - Photo by the Company

JAKARTA (TheInsiderStories) – State miner, PT Aneka Tambang Tbk (IDX: ANTM), also know ANTAM, targeting the sales volume of nickel ore rose 104 percent in this year, from 3.3 million wet metric tones (wmt) to 6.71 million wmt, said the management today. The mining firm also plans to raise the production to 8.44 million wet or increases by 77 percent compared to last year around 4.76 million wmt.

The spokesman, Kunto Hendrapawoko, also announced the ferronickel sales and production around 26,000 tons of nickel in ferronickel (TNi) from a year ago 25,970 TNi and 26,163 TNi, respectively. Then, the bauxite sales rises 122 percent from 1.23 million wmt to 2.73 million wmt. While, the production is estimating 3 million wmt, almost grow double from last year of 1.55 million wmt.

“This bauxite will be sold to China,” he told the media virtually on Wednesday (04/07).

As known, the government has give permit for the company to export bauxite up to 1.89 million wmt until 2022. As for the gold, the miner targeting the production1.37 tones with a sales targets of 18 tones. This target is lower than last year total gold production 1.67 tones and sales volume of 21.79 tones.

To support this year targets, ANTAM aims to pouring capital expenditure up to Rp2.84 trillion. The largest portion will be allocates for the completing a ferronickel smelter in Halmahera, Smelter Grade Alumina Refinery in Mempawah, West Kalimantan collaborating with its parent PT Indonesia Asahan Inalum (MIND ID), which has a processing capacity of 1 million tones of SGA per year.

The miner also plans to form a new venture company Indonesia Battery Holding with PT Perusahan Listrik Negara and PT Pertamina to operates an electric vehicle (EV) battery plant. According to CEO of PT Indonesia Asahan Aluminium (MIND ID), Orias Petrus Moedak, there are two potential partners from China and South Korea who are being approached to become an investors in the new EV battery factory.

He said, the investment values of this project was estimated around $12 billion. To support the planned, ANTAM now worked on related EV battery like high-pressure acid leaching and rotary kiln electric furnace smelter projects valued $2 billion to $3 billion, respectively. But, he did not give the details on the two projects.

Hendrapawoko also announced, ANTAM will distribute 35 percent of its 2020′ net profit as cash dividend. Last year, the state firm posted a net profit of Rp1.15 trillion.

US$1: Rp14,500

Written by Editorial Staff Email: theinsiders