Antam spends Rp200 billion for exploration

By Cepi Setiadi

IDX-listed Aneka Tambang Tbk (Antam) has allocated Rp 200 billion for exploration projects this year as the company is seeking to increase resources and reserves, Antam's President Director, Tato Miraza said.

"We will spend about Rp 200 billion for exploration for all commodities this year," he told reporters. Tato said that basic strength of a mining company is on human capital and resources.

Tato added that by doing the exploration intensively, the resources of Antam have increased significantly.

He revealed that in 2011, Antam's nickel resources were about 705 million wmt and jumped to 825 million wmt in 2012.

For gold, Antam's resources also increased to 9.4 million tons in 2012 from 9.3 million dmt in the previous year, while for bauxite, from about 400 million wmt to about 473 million wmt.

Editing Adianto P. Simamora