Antam suffers net loss of Rp 775b

IDX-listed mining firm PT Aneka Tambang Tbk (Antam) turned into the red last year after booking a net loss of Rp 775 billion from a net profit of Rp 410 billion in the previous year.

The company said it booked a revenue of Rp 9.42 trillion in 2014, or down by 16 percent from 2013.

Antam said in a statement Friday that 2014 was a challenging year particularly for the company as the government imposed a ban on the export of mineral ores.

Antam said it would press ahead with its smelter project this year, hoping the government would inject capital into the state controlled firm.

Editing by Reiner Simanjuntak