Jakarta, March 1, 2018 - PT ANTAM Tbk (ASX ATM; IDX - ANTM; ANTAM) is pleased to announce the Company's commitment in enhancing shareholder value by focusing on core business development based on nickel, gold and bauxite through maximizing production to increase revenue and lower cash cost to ensure long term profitability.
ANTAM is committed to sustaining growth through reliable expansion projects and increasing the quality of mineral reserves and resources to enhance the added value of the Company's core commodities. ANTAM is currently undertaking the East Halmahera Ferronickel Plant Development Project (P3FH) with a capacity of 13,500 tonnes of nickel contained in ferronickel (TNi). The project is planned to commence commissioning in the early 2019. ANTAM is also currently focusing on the development of Smelter Grade Alumina Refinery (SGAR) plant in Mempawah, West Kalimantan with PT INALUM (Persero).
ANTAM's Finance Director, Dimas Wikan Pramudhito, said:
"We are focusing on the development of our core business and strengthening financial structure to ensure the Company's long term profitability. We maintain financial strength by implementing innovation to increase a revenue, ensure the ability to repay our debt, finance our continued growth and conduct the strategic divestment strategy in our non-core joint venture entities to enhance positive returns for our shareholders and stakeholders."
At the end of 2017, ANTAM sold and transferred 20% of the Company's total issued and paid-up shares in PT Dairi Prima Mineral (PTDPM) amounting to US$57 million. The divestment strategy is a part of ANTAM's commitment to strengthen the development of Company's core business as well as maintain financial strength. PTDPM which has zinc and lead as main commodities, is ANTAM's joint venture with the 20% ownership.
ANTAM continues to evaluate existing and potential future opportunities in line with the effort of Company's sustainable growth and commitment to maximize shareholders and stakeholders value.
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