PT ANTAM (Persero) Tbk recorded a 12% increase in sales value in 2015 compared to 2014. The largest contributors to ANTAM’s Rp10.5 trillion in revenue in 2015 were gold and ferronickel.
Gold was the largest component, contributing Rp7.31 trillion or 70% of net sales while ferronickel was the second largest component, contributing Rp2.72 trillion or 26% of net sales.
ANTAM’s president director Tedy Badrujaman said, “Despite the volatility of the global mining industry, our operating performance remains on track as reflected from the significant increase in gold sales. Coupled with continued efficiency initiatives, our gross profit remains positive. We are committed in improving the company’s performance amidst current challenges.”
The sales increase was a result of a significant increase in gold sales volume with ANTAM posting a 42% increase in gold sales to 455,865 ounces.
The company also recorded a positive operating performance in 2015. Gold production reached 71,053 ounces from the Pongkor and Cibaliung mines compared to 2014 production of 75,297 ounces. In addition to gold production from these two mines, ANTAM also refines gold for domestic third parties.
Ferronickel production grew by 2% to 17,211 tonnes of contained nickel in ferronickel compared to 2014. The increase was due to higher quantity and grade of the ore feed from the Pomalaa and Pakal Island nickel mines.
ANTAM continued its prudent development initiatives. The overall progress of key projects was on track with Engineering, Procurement and Construction (EPC) progress of the Pomalaa Ferronickel Plant Expansion Project reaching 98.67%. ANTAM was reviewing the redesign as well as retendering its East Halmahera Ferronickel Plant Development Project after the company received a state injection at the end of 2015.