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Mid- 2016 PT . Antam achieved profit 11.03 billion

Jakarta (Benchmark News) – PT Aneka Tambang Tbk (Antam) recorded a profit for the period attributable to owners of the parent or Rp11,03 billion net profit in the first half of 2016 after suffering a loss in the same period the previous year.

Director of Antam, Tedy Badrujaman in a press release on Friday argued that the profit achievement represents a significant increase when compared to loss for the period attributable to owners of the parent amounted to Rp396 billion in the first half of 2015.

“With the increase in commodity prices at the moment, we are optimistic to be able to provide the level of profitability and good returns to shareholders in 2016,” said Tedy.

He also noted that in the first half of 2016, Antam’s net sales Rp4,16 trillion worth of gold was the largest contributor with a contribution of 68 percent or IDR2.84 trillion.

He added that a ferronickel be the second biggest contributor to Antam’s net sales value of Rp 950 billion, or 23 percent of total sales.

“In that period, Antam sold 5,392 kg of gold, while ferronickel sales volume totaled 8,092 tonnes of nickel in ferronickel (tonnes),” said Tedy.

He argues that in the business of gold that gives the largest contribution revenues, Antam is developing gold export markets to increase revenue. Some markets are being explored such as Malaysia, Singapore, the United Arab Emirates and some African countries.

Developments related to growth projects, Tedy Badrujaman said ferronickel plant construction project construction Haltim (P3FH) continues to perform well after the process “rights issue” at the end of 2015.

Meanwhile, he added, the progress of the expansion project of ferronickel plant Pomalaa (P3FP) which will be completed in 2016 has reached 99.69 percent. P3FP will ferronickel production capacity of 18000-20000 tonnes into 27000-30000 tonnes per year.

As for the progress of smelter grade alumina refinery project (SGAR), Antam will continue discussions with PT Inalum (Persero) and strategic partners.

Previously, Antam and Inalum have agreed to form a joint venture company, PT Antam Alumina INALUM SGAR for development of the Project. In the Project Anode Slime & Precious Metal Refinery (PMR), Antam also still continuing discussions with PT Freeport Indonesia and PT Smelting.(Red)

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