Antam?s 2006 net profit soars
Thursday, March 1 2007 - 01:54 AM WIB
State nickel miner PT.Aneka Tambang Tbk. announced on Thursday its 2006 net profit increased by 85 percent to Rp.1.559 billion (US$173 million), or Rp.817 per share on higher ferronickel sales volume and prices.
Antam?s consolidated sales volume rose 69 percent to Rp.5.566 trillion or $617 million, with nickel products sales contributed 84 percent.
Revenue from ferronickel increased 177 percent to Rp.2.731 billion as sales volume increased 92 percent to 13,400 tonnes while average prices increased by 57 percent to $10.14 per pound. Increased sales in ferronickel was due to operation commencement of FeNi III smelter in April 2006.
Antam operates nickel smelters in Southeast Sulawesi province and a gold mine in Pongkor, West Java. Antam also operates a bauxite mine in Sumatra and also exports lower grade nickel ores from its East Indonesia mines. (alex)