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Antam posts record ferronickel output in FY'16, beats guidance

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Antam posts record ferronickel output in FY'16, beats guidance

PT Antam (Persero) Tbk said Jan. 30 that it produced 20,293 tonnes of nickel contained in ferronickel in full-year 2016, reaching an all-time high and up 18% from the year-ago period.

The output in the period exceeded the full-year target of 18,500 tonnes of nickel contained in ferronickel.

The company sold 20,888 tonnes of nickel contained in ferronickel during the period, the highest ever and up 12% from 2015 sales.

The higher sales were attributed mainly to the completion of the Pomalaa ferronickel plant expansion project in Indonesia.

Meanwhile, gold output from its Pongkor and Cibaliung mines in Indonesia totaled 2,208 kilograms, while sales reached 10,227 kilograms in 2016.

The company recently laid out its 2017 production forecast of 24,100 tonnes of nickel contained in ferronickel and 2,270 kilograms of gold.

Antam added that it targets to sell 24,100 tonnes of nickel contained in ferronickel in the full-year, while gold sales for 2017 are targeted at 11.4 tonnes.