PT Aneka Tambang Tbk (ANTM) will improve all core commodities production and sales performance this year. The company is optimistic that the trend of gold demand in Indonesia will increase again in 2024, followed by other commodities.

"ANTAM focuses on a customer-based development strategy in the country, especially in nickel ore and bauxite products. ANTAM also remains optimistic that the trend of gold demand in Indonesia will increase again in 2024 and will tend to stabilize for the next few years," said Nicolas D. Kanter, President Director of ANTM in ANTM's 2023 annual report, quoted on Thursday (18/04).

He added that ANTAM is committed to keep developing strategic projects to support minerals downstream and focus on implementing a sustainable business.

In ferronickel products, ANTAM targets production and sales volumes of 22,464 TNi each. The ferronickel production target grew 5% from the 2023 ferronickel production achievement of 21,473 TNi, while the ferronickel sales target grew 12% from the 2023 ferronickel sales achievement of 20,138 TNi.

"ANTAM has taken into account the utilization rate and operating stability of ANTAM's ferronickel plant in Kolaka, Southeast Sulawesi in setting ferronickel production and sales targets," he said.

In 2024, ANTAM targets total nickel ore production used as raw material for ANTAM's ferronickel plant and sales to domestic customers of 20.58 million wmt, growing 53% from the 2023 nickel ore production of 13.45 million wmt.

Nickel ore sales are targeted to reach 18.75 million wmt or grow 60% from the 2023 nickel ore sales of 11.71 million wmt in 2024.

In the precious metals segment, ANTAM will continue to innovate precious metal products and sales services in 2024. ANTAM targets gold production in 2024 from the Pongkor gold mine to be 958 kg (30,800 troy oz).

Meanwhile, gold sales in 2024 are targeted to reach 37,354 kg (1,200,959 troy oz), an increase of 43% from the 2023 gold sales achievement of 26,129 kg (840,067 troy oz). In addition, the production and sales target for silver metal is planned at 5,668 kg (182,230 troy oz).

In the bauxite and alumina segment, along with the stipulation of the bauxite ore export ban that took effect in 2023, ANTAM will focus on developing bauxite ore sales in the domestic market.

For the bauxite ore commodity, the company targets a production volume in 2024 of 3.47 million wmt per the level of bauxite demand for the Tayan Chemical Grade Alumina (CGA) plant and projected sales of bauxite ore to third-party customers.

This production target grew by 72% compared to the 2023 bauxite production of 2.01 million wmt.

Regarding bauxite ore sales, ANTAM targets a sales level of 3.05 million wmt, a significant increase of 103% compared to 2023 bauxite sales of 1.50 million wmt.

"Overall, the operational targets set by the company in 2024 are dynamic and open to adjusting to the level of market absorption and commodity prices in the domestic and global markets," Nicolas said.

Image source: KONTAN / Doc. ANTAM
Source: https://industri.kontan.co.id/news/aneka-tambang-antm-siap-genjot-produksi-pada-tahun-ini