Antam gets interest rate reduction from BRI
Friday, November 13 2015 - 03:27 PM WIB
IDX-listed state-owned general mining firm PT Aneka Tambang Tbk (Antam) announced on Friday that it has received an interest rate reduction on its US$100 million loan from IDX-listed state owned bank Bank Rakyat Indonesia (BRI).
?This is an evidence for positive supports from the banking industry for Antam at the time the mining industry is faced with various challenges,? the firm said, but stopped short of providing details on the interest rate.
The loan is given to Antam to support its working capital.
The firm has yet to publish its financial report for the nine month period of this year. But, the firm claimed its performance was positive during the period. Its ferronickel production rose 10 percent to 12,838 tons in ferronickel (TNi) compared to the same period of last year, while sales rose 4 percent to 13,388 TNi with South Korea, Europe and China as the main markets.
Its gold sales significantly rose by 129 percent to 12,648 kg (406,643 oz) in the first nine months of the year, compared to the same period of last year.
As of October 2015, the EPC works for the expansion of its ferronickel plant in Pomalaa in Southeast Sulawesi have been 96.95 percent completed.
Editing by Johannes Simbolon