PT Aneka Tambang Tbk (ANTM) obtained export approval for metal minerals for export sales of washed bauxite ore with Al2o3 = 42% content of 1.89 million wet metric tons (wmt) for the period 2021-2022.
The state-owned mining company obtained an export permit for the implementation of the Smelter Grad Alumina Refinery (SGAR) factory downstream project.The mineral export license complements the bauxite ore export license thatANTMhad previously, which amounted to 840,000 wmt of ownership of the Chemical Grade Alumina (CGA) factory in Tayan.
Based on the Regulation of the Minister of Energy and Mineral Resources No.17 of 2020 concerning Mineral and Coal Mining Business, ANTM is included in the criteria for companies holding Bauxite Production Operation Mining Permits (IUP) that already own and operate and develop mineral refining facilities in the country.
“Therefore, currently ANTM is allowed to export washed bauxite ore with Al2O3 content = 42%, by obtaining a recommendation for export approval which is extended annually until 2023,” said Aneka Tambang’s Corporate Secretary, Kunto Hendrapawoko, Thursday ( 28/1).
NH Korindo Sekuritas Indonesia analyst Maryoki Pajri Alhusnah assessed that, fundamentally, this bauxite export permit did not really affect ANTM’s income.This is because bauxite only contributes around 2% ofANTM’stotal revenueas of the third quarter of 2020.
“However, the existence of this export permit is one of the positive catalysts forANTMitself,” explained Maryoki to Kontan.co.id, Monday (1/2).
As of the third quarter of 2020, ANTM, a member of theKompas100index, posted revenues of IDR 18.03 trillion.As for the sales of bauxite ore only Rp 444.21 billion or 2.46% of Aneka Tambang’s total revenue.
Based on the operational report, ANTM was recorded to have produced bauxite used in alumina production of 1.55 million wet metric tons (wmt) throughout 2020, or a 10.02% decline from bauxite production in the 2019 period which reached 1.72 million wmt.Meanwhile, bauxite sales also decreased, from the previous 1.69 million wmt in 2019 to 1.22 million wmt in 2020.