ANTAM Sets Ambitious Goals for Its Key Commodities in 2024

Aneka Tambang (ANTAM), a prominent player in Indonesia's mining sector and a member of PT Mineral Industri Indonesia (Persero) (MIND ID) - the State-Owned Enterprise Holding of Mining Industry, has outlined an ambitious plan to elevate production and sales across its main commodities in 2024. With a strategic approach towards efficient cost management, ANTAM is poised to enhance its performance in nickel, gold, and bauxite commodities significantly.

For the year 2024, ANTAM has set its sights on a substantial increase in ferronickel production and sales, targeting 22,464 tons of nickel within ferronickel (TNi). This projection represents a 5% increase compared to its 2023 production and a 12% growth in sales. These targets take into account the global market demand, operational stability, and the optimal utilization rate of ANTAM's ferronickel plant located in Kolaka, Southeast Sulawesi.

In the realm of nickel ore, ANTAM aims for a production total of 20.58 million wet metric tons (wmt), marking a 53% increase from 2023 figures. The sales target for nickel ore is set at 18.75 million wmt, aligning with the optimistic outlook of the national nickel downstream industry and reflecting a 60% increase from the previous year's sales.

Turning to gold, ANTAM projects a production of 958 kg (30,800 troy oz) from its mining operations, coupled with an ambitious sales target of 37,354 kg (1,200,959 troy oz). This sales goal indicates a 43% increase from 2023, driven by innovative product development and a strategic focus on expanding the customer base in the domestic market.

For bauxite ore, the company is aiming for a production target of 3.47 million wmt, a significant 72% increase from 2023. The bauxite ore sales target is pegged at 3.05 million wmt, more than double the sales in 2023, focusing on the domestic market following the export ban.

Additionally, through its subsidiary PT Indonesia Chemical Alumina, ANTAM has set a production goal of 160,000 tons of alumina for 2024, maintaining a stable output compared to 2023. Alumina sales are expected to reach 170,000 tons, showing a 16% increase from the previous year.

ANTAM's comprehensive strategy and ambitious targets for 2024 underscore its commitment to playing a pivotal role in Indonesia's mining industry while focusing on sustainable growth and enhancing shareholder value.