Antam chief commissioner to be replaced

State mining company PT Aneka Tambang (Antam) will hold an extraordinary shareholders meeting on April 23 to seek shareholders' approval to replace the company's chief commissioner.

Antam president D. Aditya Sumanegara said that the company would make a public announcement about the planned extraordinary shareholders meeting on March 22 and send invitations to shareholders on April 6.

"So we will have only one single agenda in the next extraordinary shareholders meeting, namely to replace the commissioner," Aditya said without giving further details.

According to the company's corporate secretary Dohar Siregar Antam booked total sales of Rp 1.56 trillion last year, or increasing by 61.8 percent from Rp 966.15 recorded in 1999.

Meanwhile, Antam's exports rose to Rp 174.4 billion last year, up from Rp 119.78 billion in 1999.

Antam's increasing total sales was also represented by an increase in its sales volume of minerals that reached 2 percent higher than the target of 10,200 metric tons.

Dohar explained that the company's sales in the fourth quarter of last year stood at Rp 465 billion. The high sales value in the forth quarter was resulted from the high sales of Ferro-nickel in the fourth quarter that rose by 80 percent from the figure in the third quarter, simply because of the delay in the shipping of Ferro-nickel in the third quarter to October.

Meanwhile, sales volume of high-content nickel rose 21 percent to 1.2 million metric tons, or 5 percent higher than the target. Meanwhile, sales of low-content nickel dropped 35 percent from the figure recorded in the third quarter.

Production volume of nickel in the fourth quarter of 2000 rose 9 percent from that recorded in the third quarter but represented a 14 percent drop from the fourth quarter of 1999.

And the production of gold in the forth quarter also dropped by 14 percent from that recorded in the third quarter, or 19 percent lower than that recorded in the fourth quarter of 1999. (*)