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Antam's Q2'19 ferronickel output down 4% YOY

PT Aneka Tambang Tbk, or Antam, reported a 4% yearly fall in second-quarter ferronickel production to 6,486 tonnes of nickel contained in ferronickel, or TNi, amid the successful ramp-up of the Pomalaa plant to stable operating capacity of 27,000 tonnes per annum.

Ferronickel sales volumes fell 16% to 6,035 TNi for 1.08 trillion Indonesian rupiah in revenue. Antam said its ferronickel capacity will further increase up to 40,500 tpa in 2020 with the completion of a new plant in East Halmahera.

Gold production improved 1% to 16,365 troy ounces, while sales rose 35% year on year to 296,558 troy ounces for 5.67 trillion rupiah in revenue. Gold was the largest contributor in Antam's first-half net sales at 67% or 9.61 trillion rupiah. Silver output went up 9% to 136,930 troy ounces as sales grew 3% to 105,872 troy ounces.

Nickel ore output jumped 54% to 2.6 million wet tonnes as sales surged 230% to 2.2 million wet tonnes, generating 976 billion rupiah in revenue. Bauxite ore production grew 49% year on year to 323,000 wet tonnes as sales rose 221% to 556,000 wet tonnes for 256 billion rupiah in revenue. Alumina production reached 28,443 tons with sales jumping 2,505% to 13,443 tons.

As of Aug. 2, US$1 was equivalent to 14,232 rupiah.