PT Aneka Tambang Tbk (ANTM) or Antam is targeting to secure bauxite sales growth in 2023 of up to 27% despite the export restriction policy.
In order to secure this growth, ANTM will focus on the growth of bauxite ore sales in the domestic market. Meanwhile, production-wise, the company aims to secure approximately 21% increase in bauxite ore production.
For the record, ANTM booked production of bauxite ores of 1.65 million wet metric ton (WMT) in 2022. The total volume of sold bauxite ores in 2022 also reached 1.24 million WMT.
Based on IDNFinancials record, Joko Widodo, President of Indonesia, had announced the prohibition of bauxite ores export. This policy will start to take effect in June 2023. Widodo said that this restriction policy is enacted to drive the domestic bauxite manufacturing and refining industry.
Along with this plan, ANTM has also built a Smelter-Grade Alumina Refinery (SGAR) in Mempawah, West Kaimantan. This refinery is established by Antam with PT Indonesia Asahan Aluminium (Persero) or Inalum with a refinery capacity of 1 million tons of SGAR per year. (KR/ZH)
Source: https://www.idnfinancials.com/news/46118/eyeing-bauxite-sales-growth-antam-focus-domestic
