Antam reports higher revenue from nickel

By Harry Roy Gunawan

State owned mining company PT Aneka Tambang (Antam) reported that total production of nickel ore in the fourth quarter of 2012 was 3,252,762 wmt with a sales volume of the commodity amounting to 2,960,478 wmt.

With the increase in its nickel ore sales volume, Antam's unaudited revenue from nickel ore throughout 2012 amounted to Rp3.07 trillion, an increase from Rp2.46 trillion posted a year earlier, the company said in a report.

To maximize its cash flow, Antam is targeting a nickel ore production volume of 13 million wmt with a sales volume of 11.5 million wmt in 2013.

Meanwhile, Antam's gold production in the fourth quarter of 2012 was recorded at 682 kg (21,927 toz) with a gold sales achievement of 2,085 kg (67,034 toz). In 2012, Antam's unaudited revenue from gold reached Rp3.63 trillion with almost of its gold sales came from the domestic market.

In 2013, Antam expects the gold production of the Pongkor mine can be augmented and targets gold production volume of 3,316 kg (106,612 toz), which is consisted of the 2,001 kg (64,334 toz) from the Pongkor mine and the 1,316 kg (42,310 toz) from the Cibaliung mine. Antam targets gold sales of 7,601 kg (244,378 toz) in 2013.

For coal, Antam, through subsidiary PT Indonesia Coal Resources (PT ICR), produced last year 607,606 tons of coal with a sales volume of 758,345 tons. The sales of coal generated an unaudited revenue of Rp208 billion. In 2013, PT ICR is targeting an increase in its coal production to 1.2 million tons.

Editing by Dadan Wijaksana