Antam aims to boost gold sales next year

IDX-listed mining firm PT Aneka Tambang Tbk (Antam) plans to boost gold sales volume next year to 24 tons from the 11-12 tons estimate for 2017, Bisnis Indonesia reported on Thursday.

The paper quoted Antam Marketing Director Tatang Hendra as saying that the company is optimistic to be able to meet the target given strong demand particularly at home.

?Next year will be a turning point (for Antam). (Gold sales) will double up to 24 tons driven by strong demand at home,? he said, adding that the company has the capacity to meet the much higher sales target both in terms of production and precious metal refinery capacity.

Elsewhere, Antam has started entering the Japanese gold market by teaming up with Japan?s MKK Co Ltd, a subsidiary of Mirai Kagaku Co Ltd, to sell small gold bars with Hello Kitty motif in that country. Tatang said Japan has huge market potential for Hello Kitty gold bars. Antam sets an initial sales volume target of 50 kg per month in Japan, which may increase depending on demand.

Tatang said that Antam will also expand its market in Southeast Asia particularly Singapore amid strong demand. In the first nine months of this year, Antam?s gold production stood at 1,473 kg.(*)