ANTAM's Efficiency Reaches 30% Above Target

ANTAM's Finance Director Dimas Wikan Pramuditho said,
"Increased innovation for cost efficiency is a concrete step to support the company's financial endurance and to mitigate the impact of the external conditions which is beyond the company's control. Our innovative efforts will continue to achieve cost competency as to increase the competitiveness in response to current market and industry climate."

ANTAM's cost efficiency program is reflected in the company's cash cost. As of 10M15, ANTAM's ferronickel cash cost was 4.16% lower than the company's target. Meanwhile, ANTAM's gold cash cost was 19.14% lower than target, precious metals processing cash cost was 15.14% lower than target, bauxite cash cost was 6.18% lower than target whilst nickel ore cash cost was 4.69% lower than internal target.

ANTAM's cost saving program includes, amongst others, efficiency of fuel consumption in Buli and Tayan, use of Vendor Held Stock (VHS) system in Pomalaa, reduced use of consumables in the ferronickel plant and Pongkor gold mine, reuse of industrial residues at the precious metals refinery, renegotiation of third party contracts and lower interest rate from corporate loans.