Antam, Timah net profits plunge in H1

State owned mining companies PT Aneka Tambang (Antam) and PT Timah said their net profit plunged in the first half of the year following the collapse of mining product prices due to the global economic crisis.

Diversified mining firm Antam's net profit plunged to Rp 223.77 billion (US$10,050)in the first half of the year, compared to Rp 1.48 trillion in the year-ago period.

Meanwhile, tin miner PT Timah said its first-half of 2009 net profit plunged to Rp 42.825 billion from Rp 1.112 trillion in the same period of last year.

Revenue fell 15.8 percent to Rp 3.539 trillion from 4.203 trillion. (denny)