Antam’s Nickel Reserves Can Be Up To 30 Years

Chairman of the Electric Vehicle Battery Development Team, Agus Tjahajana, said that PT Aneka Tambang (Antam) has reservesofIndonesiannickel thatcan last up to 30 years.This reserve is able to support the electric battery industry business in Indonesia.

“Antam is the owner ofnickelreservesthat will be used and it has been calculated that it will be capable of up to 30 years,” said Agus as quoted by Antara, Monday (24/5/2021).

As is well known, the government has officially announced the formation of the Indonesia Battery Corporation (IBC) on March 26, 2021. IBC is a joint venture of four companies, namely Inalum, Antam, Pertamina and PLN with each share ownership of 25 percent.

This state-owned corporation will manage an integrated battery industry ecosystem from upstream to downstream to strengthen energy security and the national economy.

“We hope that everyone supports the IBC. This is our goal to get at least USD 0 billion from contributing to Indonesia’s gross domestic product,” said Agus.

In the domesticnickelmining industry, there are quite a lot of low grade nickel ore and high grade nickel available because Indonesia’s nickel reserves account for 24 percent of the world’s total nickel reserves.

“The downstream embodiment does not only build the mining industry in the upstream but we process it until it becomes a battery,” said Agus.

In 2021, the mining issuer with the stock code of ANTM has budgeted a capital expenditure of IDR 2.84 trillion with the largest portion for business development, one of which is to complete the ferronickel smelter project in East Halmahera.

The smelter construction project has reached 98 percent and is targeted to be completed this year so that it can process 40,500 tons of nickel in the form of ferronickel.

Antam targets nickel ore production to reach 8.44 million metric tons by 2021, almost one-fold increase from the realization of production in 2020 of 4.67 metric tons.