ANTAM Aims to Become Key Player in Indonesia’s Nickel Downstreaming
Thu 11 Jun 2026, 10:54 AM
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Indonesia's downstreaming, or industrialization, policy for mineral and coal commodities is gaining traction, as reflected in the growing contribution of the processing industry relative to the mining sector.
The Directorate General of Minerals and Coal at the Ministry of Energy and Mineral Resources (ESDM) reported that non-tax state revenue (PNBP) from the mineral and coal sector reached IDR 48.95 trillion during the January-April 2026 period. The data indicates that the mineral downstreaming program has contributed to higher state revenue.
As of May 15, 2026, the figure had increased to around IDR 56 trillion, representing annual growth of 6.21%. Behind this achievement, several smelters within the MIND ID ecosystem have become key drivers of Indonesia’s mineral processing industry, including PT Aneka Tambang Tbk (ANTM).
ANTAM President Director Untung Budiharto said the company remains committed to carrying out special assignments from the government aimed at accelerating the nickel downstreaming program and the development of Indonesia's electric vehicle battery ecosystem.
“Through various integrated strategic projects, ANTAM is not only increasing value-added output but also supporting the strengthening of national industrial self-sufficiency and Indonesia’s position in the global industrial supply chain,” he said on Thursday (11/6/2026).
The assignment covers the development of an integrated nickel-based battery ecosystem from upstream to downstream, including mining activities, the construction of RKEF/RKSBF plants, HPAL facilities, refineries, precursor and cathode plants, battery cell manufacturing facilities, and battery recycling facilities.
The project will be implemented through a partnership between ANTAM and PT Industri Baterai Indonesia (IBI) together with HYD Investment Limited, a consortium comprising Zhejiang Huayou Cobalt Co., Ltd., EVE Energy Co., Ltd., and PT Daaz Bara Lestari Tbk., as strategic partners in developing Indonesia’s integrated electric vehicle battery ecosystem.
“The development of this ecosystem is expected to increase the value-added of the nation’s mineral resources, expand the company’s revenue streams, strengthen long-term business resilience, and support sustainable growth for all stakeholders,” Untung said.
Throughout 2025, ANTAM's nickel ore production reached 16.11 million wet metric tons (wmt), up 62% from 9.94 million wmt recorded in FY2024. On the sales side, nickel ore sales totaled 14.58 million wmt, representing growth of 75% compared with 8.35 million wmt in 2024.
Supported by rising domestic demand, 2025 marked ANTAM's highest nickel ore production and sales performance in more than a decade since the implementation of Indonesia's mineral export ban.
Meanwhile, despite regulatory challenges throughout 2025, ANTAM maintained stable ferronickel operations, recording production of 16,064 tons of nickel in ferronickel (TNi) and sales volume of 10,528 TNi.
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