Antam?s first quarter net profit increases 25%
Tuesday, May 9 2017 - 02:36 AM WIB
Petromindo|Boim
IDX-listed mining firm PT Aneka Tambang Tbk (Antam) saw net profit in the first quarter of this year increased by 25 percent to Rp 6.64 billion compared to the corresponding period of last year.
Antam said in a statement Tuesday that net sales in the January-March period of this year amounted to Rp 1.65 trillion with gold contributing Rp 1.16 trillion, or 70 percent of the total net sales. During the first quarter of 2017 (1Q17), Antam posted gross profit of Rp 82.54 billion.
?We are committed to delivering positive returns to our stakeholders. In 1Q17 we partnered with PT Pos Indonesia (state-owned post office) to widen gold sales distribution. In terms of project development, we conducted first piling ceremony of the East Halmahera FerronickelPlant Development Project (P3FH) at the end of last month. We are confident that completion of the project to occur at the end of 2018,? said Antam President Director Arie Prabowo Ariotedjo in the statement.
Antam has established partnership with PT Pos Indonesia (Persero) to utilize 109 post offices as the sales, payment, and distribution partner of Antam?s precious metal products in Java, Madura, Bali, West Nusa Tenggara and East Nusa Tenggara.
Antam has secured mineral export license amounting to 2.72 million wet metric tons (wmt) of nickel ores and 850,000 wmt of bauxite ore export. ?This is a positive incentive that will accelerate the development of Antam?s smelter and mineral downstream projects,? the company said.
On development projects, Antam together with PT Smelting (PTS) and PT Freeport Indonesia (PTFI) have signed Memorandum of Understanding (MoU) regarding project development of the Anode Slime & Precious Metal Refinery (PMR) Facility Plant. Under the MoU, Antam, PTS and PTFI agree to form partnership in supporting the establishment of anode slime processing and precious metals refinery by Antam. The refinery will process anode slime obtained from PTS? smelter as well as from the planned smelter of PTFI.
On the nickel development project, Antam has conducted first piling ceremony of the East Halmahera Ferronickel Plant Development Project (P3FH) in East Halmahera, North Maluku, on April 25, 2017. P3FH will support Antam?s total annual ferronickel production capacity of 40,500- 43,500 tons of nickel contained in ferronickel (TNi), translating into closer realization of basic metal industry in Indonesia.
Editing by Reiner Simanjuntak