Indonesian miner Aneka Tambang (Antam) reported nickel ore production of 2.64mn wmt in Q1 2021, which is up four-folds from 629,000wmt in the prior-year quarter. The company’s nickel ore sales in Q1 was 1.6mn wmt.
Antam is focused on developing the domestic nickel ore market in Indonesia given the positive nickel outlook demand in the country, said the company’s earnings release. Indonesia’s Ministry of Energy and Mineral Resources is establishing a domestic benchmark for mineral prices, which is expected to trigger a competitive atmosphere for domestic minerals. Antam expects the benchmark would expand its customer base for nickel ore commodities. Indonesia aims to escalate nickel laterite processing to be used in lithium batteries which will take them a step closer to their vision of becoming a hub for electric vehicle production and exports.
Antam’s ferronickel sales for Q1 was at 5,624TNi, down by 12pc from 6,379TNi in the prior quarter. However, bauxite production rose to 557,354wmt from 330,984 in the prior-year quarter, while sales rose to 384,785wmt from 55,277wmt in Q1 2020. Alumina production reduced to 15,315 mt in this quarter from 30,621mt in Q1 2020 (49pc).
In Q1, the company’s unaudited net sales rose to IDR9.21 trillion, up 77pc from the prior-year quarter, with gold contributing to 72pc of its total sales.