Antam lowers 2011 ferronickel production, sales target

IDX-listed state nickel and gold miner PT Antam Tbk plans to slightly cut its 2011 ferronickel production, sales target to 18,000 tons and 18,500 tons from this year's target of 18,500 tons and 19,000 tons, respectively as it will carry out routine maintenance for its FeNi II smelter.

The company said that although production and sales of ferronickel are expected to be slightly down, production and sales of nickel ore for 2011 are expected to increase to 7,650 wet metric ton (wmt) and 5,860 wmt from 6,850 wmt and 5,350 wmt in 2010, respectively.

Antam is also planning to increase gold production next year to 4,007 kg from this year?s target of 3,080 kg. As of September gold production reached 2,035 kg. (denny)