Aneka Tambang sees higher 2001 output
Saturday, March 17 2001 - 06:00 AM WIB
The publicly listed state-owned nickel and gold miner PT Aneka Tambang said on Thursday it expected ferronickel production to rise to 10,500 tons in 2001 from 10,300 tons last year.
"The selling price is estimated at $3.10 per lb compared to an average of $3.80 per lb last year," its president Deddy Aditya Sumanagara told reporters.
The company had previously said output was 10,100 tonnes last year.
Aneka Tambang has also signed a memorandum of understanding with Australian Gold Refiners (formerly Perth Mint) here on Thursday (March 15).
The signing of the MoU is aimed at increasing collaborations between the two countries that have been established since many years ago, and would function as the basis for development of Aneka Tambang's gold mining business in the future, Deddy said.
Aneka Tambang is currently making preparations to build its third ferronickel smelter in Pomalaa in Southeast Sulawesi at a cost of around $220m.
Construction is due to start in the first half of 2001 and commercial operation will begin 28 months later. The new plant will more than double its nickel production capacity to 24,000 tonnes from the current 11,000 tonnes. (*)