Antam's Q2 sales and output drop

Publicly-listed state owned mining company PT Aneka Tambang (Antam) said on Friday its sales and output decreased in the second quarter of the year.

The firm said in a statement send to Petromindo.com that it produced 4,152 tons of nickel contained in ferronickel in the second quarter of the year, a 6% decrease over the same period last year. Production of ferronickel amounted to 8,514 tons, a 3% decrease compared to the same period last year.

Due to lower grades and lower gold ore production, the firm produced 577 kg of gold in the second quarter of the year or 16% decrease over the same period last year.

Antam's consolidated second quarter of 2008 sales revenues dropped 5% to Rp 3,230 billion from Rp 3,384 billion. Its unaudited preliminary sales revenues in the first half of 2008 amounted to Rp 5,347 billion, a 10% decrease compared to the same period last year.

Heavy trading activities by its gold refinery unit Logam Mulia unit boosted gold sales by 423% in the second quarter of 2008 to 1,982 kg.

In the second quarter of the year, Antam continued exploration on lateritic nickel, gold and bauxite in Indonesia. Total exploration cost in 2Q08 reached Rp 48.6 billion. (denny)