Indonesia announced three rules of mineral and coal mines, namely Government Regulation No. 1/2017, Ministerial Decree (Permen) ESDM No.5/2017 and ESDM No.6 / 2017. Gerry Harlan and Ariyanto Kurniawan from Mandiri Sekuritas believed the new regulation will give a significant impact for PT Aneka Tambang Tbk (IDX: ANTM) and PT Vale Indonesia Tbk (IDX: INCO). The most important benefit of nickel ore exports will increase companies’ cash flow. Sales of nickel ore will increase approximately 30 to 40 percent of revenue ANTM. The discussions with management ANTM also indicated that the nickel ore with a nickel content of 1.8 percent was US $40per ton on the export market compared to the domestic market price of $23 per ton to the level of 2 percent. ANTM is currently traded on the market with a valuation ratio of share price per book value FY17F of 1.2x vs INCO 1.2x. Hadiyansyah, technical analyst of Mandiri Sekuritas adding, currently ANTM stock in the sideways movement with the range of movement (support-resistance) Short term Rp850-Rp900, while has a downtrend (bearish) with support-resistance Rp2,450-Rp3.050.
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