Aneka Tambang (ANTM) believes that increase performance in line with the increase in nickel prices

Mineral mining company PT Aneka Tambang Tbk (ANTM) is optimistic that the trend of increasing nickel prices will have a positive impact on its performance this year.The company, which is often referred to as Antam, also focuses on developing the downstream nickel commodity business.

Just for the record, ANTM recorded production and sales ofunauditedferronickelthroughout 2020 amounting to 25,970 TNi and 26,163 TNi, respectively.

ANTM also recorded production and sales ofunauditednickel oreof 4.76 million wmt and 3.30 million wmt, respectively, until the end of last year.The nickel ore is used as raw material for ANTM’s ferronickel plant and for sales to domestic customers.

SVP Corporate Secretary Aneka Tambang Kunto Hendrapawoko said that in line with the current increase in nickel prices, Antam is basically continuing to increase its production and sales achievements.So that Antam hopes to score better performance by the end of 2021. “We are optimistic that Antam’s nickel business performance will remain optimal in 2021,” he added, Thursday (21/1).

This optimism is supported by ANTM’s efforts to continue to carry out selective and careful evaluations by prioritizing the priority scale in preparing the capital expenditure plan.Primarily related to activities that support worker safety and the sustainability of the company’s organic operations, in addition to supporting major development projects and exploration activities.

ANTM will also continue to focus on expanding downstream mineral processing, including in nickel, expanding the reserve and resource base, and establishing partnerships to develop new processed mineral production from existing reserves.”We are also trying to further reducecash costsand improve cost competitiveness and improve core business performance to increase company revenues,” said Kunto.

Regarding downstreaming, ANTM is still trying to complete the ferronickel plant project in East Halmahera.In fact, the factory construction has reached 97% since 2019.However, the operation of thesmelteris still hampered by the electricity supply.

In the previous news, ANTM was looking for ways to meet the electricity demand for the project which is estimated to reach 75 megawatts (MW).When operating,this ferronickelsmelterwill be able to produce 13,500 TNi of ferronickel per year.