Antam`s production of ferronickel up 107%

Antam`s production of ferronickel up 107%

Photo illustration of Antam. (ANTARA FOTO/Sigid Kurniawan)

All run positively ..."
Jakarta (ANTARA News) - State-owned general mining company PT Aneka Tambang Tbk (Antam) recorded a 107 percent increase in ferronickel production in the first quarter of 2018.

The company produced 6,088 tons of ferronickel in the January-March period this year up from 2,934 tons in the same period last year.

"Production and sales grew in the first three months of this year indicating the performance of the company has continued to be positive and increase," company`s chief executive Arie Prabowo Ariotedjo said in a statement issued here on Wednesday.

Arie said in proportion with with production the sales also shot up 109 percent in the first three months of this year.

Its production of gold from its Pongkor and Cibaliung gold mines reached 539 kg and its sales totaled 6,945 kg or an increase of 226 percent from 2,127 kg in the first quarter of 2017.

"All runs positively as expected contributing to efforts to strengthen the company`s financial structure and to increase dividend to be paid to its shareholders," Arie said.

In March 2018, the company had a recommendation to extend approval for its metal export for 2.7 million wet metric tons (Wmt) of low grade nickel ore with 1.7 percent of Ni and 840,000 Wmt of bauxite ore with 42 percent content of Al203 . The recommendation from the energy and mineral resource ministry is for 2018-2019.

In 2017, the company had a recommendation to export 3.9 million Wmt of low grade nickel ore including 2.7 million wmt and 1.2 million Wmt for October. Recommendation for exports of bauxite ore was received in March, 2017.

With the export license, the company`s production of nickel ore shot up 301 percent to 2.11 million Wmt with sales up 2,171 percent to 1.15 million Wmt in the first quarter of 20-18 from 50,500 Wmt in the same period in 2017.

Its production of bauxite reached 200,300 Wmt in the first three months of 2018, with sales reaching 61,380 Wmt , up 37 percent from the same period in 2017.
(Uu.H-ASG/H-YH)

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