Antam launches gold bullion depository services
Wednesday, November 26 2014 - 01:33 AM WIB
IDX-listed mining firm PT Aneka Tambang Tbk (Antam) announced Tuesday the launching of its precious metal depository services, called BRANKAS.
Banking on Antam?s status as a state controlled enterprise in which 65 percent of its shares is owned by the Government of Indonesia, the BRANKAS service offers investors two layered security in gold investing. Firstly, Antam?s gold bullions are internationally certified by the London Bullion Market Association, and secondly the BRANKAS service also provides insurance protection and 24/7 services access through Antam?s LM Gold Boutique network.
The company said in a statement that the public can start enjoying BRANKAS services by visiting any Antam?s LM Gold Boutiques located in nine major cities in Indonesia.
The launch of BRANKAS services is part of Antam?s strategy to expand its retail gold business as well as to anticipate the government?s raw material export ban policy. Antam operates two gold mine concessions in Pongkor, West Java, and Cabaliung, Banten. It also operates precious metals processing and refining services.
Antam has opened 10 LM Gold Boutiques in Jakarta, Bandung, Semarang, Makassar, Surabaya, Palembang, Banjarmasin, Balikpapan and Medan as part of the retail expansion strategy.
Editing by Reiner Simanjuntak