Antam 9 months net profit surges 64%

State nickel and gold miner PT Aneka Tambang Tbk (Antam) posted net profit of Rp1.56 trillion in the nine months to September (9M11), surges 64 percent from the same period last year of Rp943.2 billion.

In 9M11, Antam posted revenues of Rp7.8 trillion, increased 36 percent from 9M10 of Rp5.73 trillion. The biggest sales value came from ferronickel at Rp3.1 trillion, contributing 40 percent to total revenues.

The revenue increase was in line with a rise of ferronickel and gold sales as well as higher sales price of its key products.

Its ferronickel sales in the first nine months of 2011 increased 37 percent to 14,985 tonnes nickel in matte (TNi).

Its nickel ore sales in the period increased nine percent from the same period last year to 4.44 million wet metric tonnes (wmt). Its gold sales in the period rose 17 percent to 5,859 kg.

About 73 percent of Antam products were exported, or worth Rp5.7 trillion.

In the first nine months, Antam operated ferronickel plant at maximum capacity in order to meet growing demand. Antam?s production volume in 9M11 has reached 83 percent of full year target. (*)