Antam strengthens gold business amid gold price rally
Monday, June 20 2016 - 04:42 PM WIB
IDX-listed state mining firm PT Antam (Persero) Tbk announced on Monday that the company continues to innovate its gold business to capitalize on the rising trend of global gold prices. One of the innovations now being developed is selling jewelry
President Director Tedy Badrujaman said in the first quarter of 2016 gold was the biggest sales contributor to the firm, accounting for 80 percent of its sales and the commodity will play a crucial role to increase the firm?s revenue.
?Thanks to the London Bullion Market Association (LBMA) certification as a guarantee for the purity and quality of our precious metal products, we believe our gold business will continue to increase in the future,? he said.
Antam is exploring several opportunities to expand its gold business, including those arising from the Free Trade Agreement between ASEAN and East Asian countries. Antam, through its Precious Metal Processing and Refinery Business Unit (UBPP LM), also provides jewelry products combined with gold bar engraved with Indonesian Batik motifs.
Recently one of the world?s financial mogul made substantial stock investments in gold mining companies, which indicate a positive outlook for gold amid the global economic volatility.
Antam has always continued developing its gold business, including UBPP LM?s precious metal purchasing and saving services, called BRANKAS. Currently, Antam offers three BRANKAS services: ?Corporate BRANKAS?, ?BRANKAS Berzakat? and ?Individual BRANKAS?. In addition, to support gold market expansion, Anta has opened 13 LM gold goutiques in various major cities in Indonesia such as Jakarta (two boutiques), Bandung, Surabaya (two boutiques), Makassar, Palembang, Semarang, Banjarmasin, Balikpapan, Medan, Denpasar and Yogyakarta.
Editing by Johannes Simbolon