Aneka Tambang Set to Increase Production Across Key Commodities in 2024

Aneka Tambang has announced plans to ramp up production and sales across its primary commodities, signaling a robust approach to meet the rising demand expected in 2024, particularly for gold within Indonesia.

The company has outlined specific targets for its ferronickel production, aiming for a 5% increase to 22,464 TNi, which marks an improvement over last year's figures of 21,473 TNi. Sales are also expected to grow by 12% from the 20,138 TNi recorded in 2023.

In terms of nickel ore, Aneka Tambang is targeting a production volume of 20.58 million wmt for 2024, a 53% rise from 13.45 million wmt in 2023. Sales forecasts are also ambitious, with an expected 60% increase to 18.75 million wmt.

The precious metals division is not left behind, as the Pongkor gold mine's production is expected to reach 958 kg (30,800 troy oz). The sales projection for gold is set at an impressive 37,354 kg (1,200,959 troy oz), which would constitute a 43% increase from the previous year. Silver production and sales targets are similarly poised for growth, each aiming for 5,668 kg (182,230 troy oz).

Following the 2023 bauxite export ban, the company's focus has shifted towards bolstering domestic sales. Production of bauxite ore is anticipated to hit 3.47 million wmt, up 72% from 2.01 million wmt last year, with sales expected to double to 3.05 million wmt.