Antam unable to achieve 2004 gold production target
Tuesday, December 14 2004 - 02:34 AM WIB
State-owned gold and nickel producer PT Aneka Tambang (Antam) is unable to achieve its gold production target in 2004 due to accidents at Pongkor mine, the company?s president director Deddy Aditya Soemanegara said in Jakarta.
The company?s production may be decreased by 10 percent, the Harian Ekonomi Neraca newspaper reported in its Tuesday edition.
"All other commodities will meet their production targets except gold. This happened because of landslide at the Pongkar mine and Antam?s gold production will be reached in between 3.7 and 3.8 kilograms,? Deddy said in Jakarta on Monday.
Deddy also mentioned that the drop in gold production will not affect the company?s income, thanks to higher gold prices in the international market.
?The improvement in gold prices will boost the company?s income,? he said.
The gold price, until the end of this year, will be around US$400-$450 per troy ounce. (*)