ANTAM Targets Significant Operational Performance Growth in 2018
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Jakarta, March 7, 2018 - PT ANTAM Tbk (IDX: ANTM; ASX: ATM; ANTAM) is pleased to announce the significant production and sales target jump of the Company's main commodities of ferronickel, gold, nickel ore and bauxite ore in 2018. In 2018, ANTAM targets ferronickel production volume at 26,000 tonnes of nickel contained in ferronickel (TNi), a 19% increase compared to 2017 unaudited ferronickel production of 21,762 TNi. Higher ferronickel production target is a part of ANTAM's strategies to gradually increase the utilization of its ferronickel plant capacity to meet optimum production level capacity of 27,000 TNi. In gold, ANTAM targets total gold production volume of 2,201 kg from the Pongkor and Cibaliung mines. ANTAM also boosted gold sales target in 2018, targeting 24,000 kg or an 81% jump compared to unaudited gold sales volume of 13,202 kg. The higher target is inline with the expectation of domestic and export market expansion of ANTAM's LM gold products. ANTAM is Indonesia's only precious metal processing and refinery unit with London Bullion Market Association (LBMA) accreditation. The accreditation ensures the purity and weight of each product as well as the acceptance of sales in the international market.
ANTAM's President Director, Arie Prabowo Ariotedjo said:
"In 2018, ANTAM targets significant operational performance growth on the Company's main commodities production and sales compared to unaudited operational performance in 2017. We are committed in elevating our operational performance as well as maintaining competitive cash cost to deliver solid returns to our shareholders and stakeholders."
Inline with the export permit of nickel low grade ore (<1,7%Ni) of 3,9 million wet metric ton (wmt) and washed bauxite ore of 850,000 wmt from the Ministry of Energy and Mineral Resources (MEMR) due to ANTAM’s solid commitment on development of mineral downstream industry in Indonesia, in 2018 ANTAM expects nickel ore production volume of 11.25 million wmt which will be used as ore feed for ANTAM’s ferronickel plant as well as being sold to domestic and export market. In 2018 ANTAM targets nickel ore sales volume of 9.30 million wmt, a 228% rise compared to 2017 unaudited sales volume of 2.83 million wmt. ANTAM targets both production and sales volume of bauxite ore in 2018 of 1.60 million wmt respectively to meet domestic and export market demand.