Antam, the Indonesian mining and metal company, reported positive operations and sales results for 2019, with net sales at IDR32.72tn ($2.11bn).
Antam is now keen on entering into a partnership for the development of metals – processing downstream projects for nickel, gold and bauxite. The company release stated that Antam and Shandong Xinhai have signed agreement for the development of a 4×48 MW nickel smelter facility using Rotary Kiln’s electric furnace technology, with a total nameplate capacity of 40,000mt of ferronickel.
Antam reported 25,713mt nickel production in year fiscal year 2019, up by 3pc from 2018. The company reported 26,212mt of ferronickel sales, 9pc up from the prior year.
Ferronickel sales were the second largest contributor to the company’s net sales, totalling IDR4,87tn, 15pc of total sales.
Antam produced a total of 8.70mn wet metric tonnes (wmt) of nickel ore in fiscal 2019, with sales volume of 7.6mn wmt, the release stated.
Antam has completed 97.75pc of construction of the East Halmahera Ferronickel Plant (P3FH) in 2019.
After completion, the P3FH will have an annual ferronickel production of 3,500mt.
Antam reported bauxite ore production of 1.73mn wmt, with a sales volume figure of 1.66mn wmt.
The revenue from bauxite sales amounted IDR758bn for the fiscal year 2019.
Antam’s gross profit amounted to IDR4.45tn and operating profit recorded at IDR95tn in 2019. Whereas, the company’s cost of goods was IDR28.27tn.
Antam completed acquisition of PT Indonesia Chemical Alumina (PT ICA) in 2019.
PT ICA produced 104,000mt of alumina in 2019, up from 13,000mt in 2018 with a reported sale of 71,000mt of alumina, up from 8,000mt in 2018.
Antam announced that it is focusing on the development of Smelter Grade Alumina Refinery (SGAR) plant with PT INALUM (Persero), with an estimated total production capacity of up to 1mn mt, annually.