JOHANNESBURG (miningweekly.com) – Indonesian diversified miner Aneka Tambang (Antam) has reported positive production results and sales of its main commodities in 2017, with high ferronickel production and sales volumes hitting an all-time high.
Antam’s ferronickel production volumes reached 21 762 t of nickel contained in ferronickel (TNi), a 7% increase from 2016’s ferronickel production.
Ferronickel sales volume jumped by 4% to 21 813 TNi, the ASX-listed company reported on Friday.
In 2017, Antam’s gold sales amounted to 13 202 kg, a 29% increase from 2016 gold sales. In line with domestic and export market expansion, as well as innovation of Antam’s LM gold products, gold was the largest contributor of its unaudited revenue in 2017.
Revenue from gold sales amounted to Rp7.37-trillion.
In 2017, Antam also posted growth in nickel ore and bauxite production, with sales volumes in line with the export permit of nickel low grade ore of 3.9-million wet metric tons (wmt) and washed bauxite ore of 850 000 wmt.
Total production of nickel ore in 2017 amounted to 5.57-million wet metric tons, an increase of 241% compared with 2016.
"The positive growth of Antam’s operational performance in 2017 illustrates our commitment to continue delivering solid returns to our shareholders and stakeholders. Higher operational results correlate positively with our unaudited revenue in 2017, which increased by 38% with total revenue reached Rp12.55-trillion,” director Arie Prabowo Ariotedjo said in a statement to the Australian bourse.
Antam recorded total nickel ore sales volume of 2.83-million wet metric tons, a 285% increase compared with 2016 nickel ore sales. Bauxite also brought a positive contribution for the company’s revenue in 2017.
In 2017, the construction of the East Halmahera Ferronickel Plant Development Project (P3FH), in the north Maluku province, was on track with 37.92% of the project completed to date.
P3FH has a yearly ferronickel production capacity of 13 500 TNi, with construction to be completed at the end of 2018.
After the completion of P3FH, the company’s ferronickel production capacity will increase by 50% with total yearly production capacity to reach 40 500 TNi from the existing production capacity of 27 000 TNi.
From January until December, the company’s positive share performance was reflected in the number of investors trading Antam’s shares, which increased 9.08%.