Antam reports higher 2010 nickel output, sales
Tuesday, February 1 2011 - 03:55 AM WIB
Antam?s ferronickel production in 2010 was 49% higher than that of 2009. Revenue from ferronickel reached Rp 3.65 trillion (US$ = Rp 9,050), 70% higher over the previous year as sales volume rose 29% to 18,253 TNi and selling price up 49% to US$10.05 per lb, the company said in a statement.
Antam produced 3,617,563 wet metric ton (wmt) of high grade nickel ore during 2010 and 3,375,891 wmt of low grade nickel ore, totaling 6,993,454 wmt. Antam?s total nickel ore production exceeded its 2010 internal target of 6.15 million wmt. Total sales of nickel ore amounted to 5,863,840 wmt in 2010, generating Rp 2.36 trillion in revenue or a 39% increase over 2009.
Inline with optimisation plan of Antam?s ferronickel smelter I and II, Antam is expected to produce 18,000 TNi in 2011 with sales target of 18,500 TNi.
Meanwhile, Antam targets nickel ore production of 7.65 million wmt consisting of 4.5 million wmt of high grade nickel ore and 3.15 million wmt of low grade nickel ore. Antam targets 5.86 million wmt of nickel ore sales in 2011 with 3.71 million wmt of high grade ore and 2.15 million wmt of low grade ore.
Production of gold in 2010 of 2,780 kg was lower than internal target of 3,080 kg. Antam?s Pongkor mine produced 2,485 kg of gold while the Cibaliung mine produced 295 kg in 2010.
Antam is yet to mine the planned, higher grade gold veins at Cibaliung. As Antam ceased precious metals trading activities, gold sales were 49% lower over 2009 at 6,561 kg. Inline with lower sales volume, revenue of gold decreased by 45.5% to Rp 2.35 trillion despite a 26% higher gold price of $1,227.52 per toz in 2010.
Gold production during the fourth quarter of 2010 was 9% higher at 745 kg over the same period in 2009 inline with additional gold output from the Cibaliung gold mine.
Antam targets to produce 3,804 kg of gold in 2011, with Pongkor expected to contributt 2,007 kg and Cibaliung 1,797 kg. (kanti)