Antam?s H1 net profit lifts 102 percent

State diversified miner PT Aneka Tambang Tbk (Antam) said Friday that its net profit for the first semester of 2003 had increased by 101.76 percent to Rp107.73 billion (US$=Rp8,500) from last year?s corresponding period of Rp53.39 billion.

Antam said the increase was due to a rise in nickel and gold prices.

The company said net sales for the first half of 2003 increased by 29.38 percent to Rp916 billion from Rp707.96 billion in the same period last year.

Antam is 65 percent owned by Indonesian government and is one of the world's low cost producers with over 34 years of mining experience. (*)