Antam to increase ferronickel sales in Asia

By Brigida Ernestina Elu Wea

IDX-listed PT Aneka Tambang Tbk (Antam) will increase ferronickel sales to Asian countries this year, and cut down export to Europe as part of cost reduction strategy amid the current volatile commodity market.

Antam Finance Director Dimas Wikan Pramudhito said that by reducing export to Europe, the company would be able to cut down shipping cost and delivery time, which helps in the ongoing efficiency drive.

He pointed out that export to Europe will take 30-45 days, combined with processes with the banks, it would take up to 90 days to complete. In comparison, the whole process for export to Asia will only take about 30 days.

Dimas said that the company?s main ferronickel export markets in Asia include China, India and Taiwan. This year, Antam has set sales and production target of 20,000 tons of nickel. As per the first quarter of this year, production has reached 10,000 TNi, sold both at home and overseas.

Editing by Reiner Simanjuntak