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ANTAM Posts Higher Net Profit; Gold Is The Main Contributor To 2012 Sales

03/18/2013
News Releases

Jakarta, March 18, 2013 – PT ANTAM (Persero) Tbk (ASX - ATM; IDX – ANTM; ANTAM) announces today its audited income for the year rose 55% to Rp2.99 trillion for full year 2012 despite lower global commodity prices. The higher audited net income was due to gain on fair value adjustment following ANTAM’s acquisition of a further 7.5% interest in PT Nusa Halmahera Minerals which operates the Gosowong gold mine in North Halmahera, North Maluku Province. The acquisition was part of ANTAM’s management effort to strengthen the company’s gold portfolio. PT Nusa Halmahera Minerals paid Rp375 billion in dividend income for ANTAM in 2012.

In 2012, ANTAM increased its gold production volume over 2011 by 7%. The increased production was supported with a 69% higher production at the company’s Cibaliung gold mine, which was only operational since 2010. In 2012, ANTAM’s gold and refining business segment contributed 38% to total sales. In the future, gold will further increase its importance toward the company’s sales as ANTAM increases its 2013 gold production target to 3 tons from the 2012 gold production of 2.8 tons. ANTAM will also further diversify its product portfolio in 2013 as the company plans to begin the commissioning phase of the Tayan Chemical Grade Alumina plant in October of 2013.  

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