PT Antam to produce more gold to guard profit
Wednesday, September 25 2013 - 01:17 AM WIB
IDX-listed state mining firm PT Aneka Tambang (Antam) Tbk has revised upward its gold output target for this year to 8.2 tons from the initial target of 6 tons.
Company Corporate Secretary Tri Hartono told Petromindo.com Tuesday that Antam has decided to produce more gold to help counter the impact of the current generally weak commodity prices as gold price remains relatively strong.
?The gold (production hike) is significant to increase our revenue, because the price of gold is still good,? said Hartono.
The firm produced 7 ton of gold last year, according to him.
In addition to rising gold production, the firm would also implement efficiency measures on operation and speed up projects, CEO PT Antam Tato Miraza said on Tuesday.
Antam?s net-profit reached Rp400 billion in the first semester of 2013, compared to full-year target of Rp1 trillion, according to Hartono.
He said that the firm?s revenue increased to Rp6.1 trillion in the first semester 2013 from Rp4.1 trillion in the same period in 2012, he said.
Editing by Reiner Simanjuntak