Indonesian Mining & Metal giant Antam declares record sales of Rp 32.72 Trillion in 2019, bauxite & alumina contribute positively

Antam, the Indonesian mining and metal giant, recorded positive operating, sales and financial performance in 2019. Audited sales were Rp 32.72 trillion, up 29.44% from the previous period of Rp 25.27 trillion. The sales were supported by the growth of production level and sales of main commodities.

On 17^th April’20 Kunto Hendrapawoko, Antam’s Corporate Secretary stated: "Bauxite commodity also contributed positively to the increase in the Company's revenue. In 2019, the level of bauxite production reached 1.73 million wmt with bauxite sales reaching 1.66 million wmt with a bauxite sales value of Rp 758 billion.”

Kunto also said: "As the completion of the acquisition process of the entire shares of PT Indonesia Chemical Alumina (ICA), in 2019, the company has fully consolidated ICA's financial statements which include Sales accounts, Cost of Sales and Operating Expenses.”

To improve operating performance, ICA last year produced 104,000 tonnes of alumina with a sales level of 71,000 tonnes. The level of production and sales of alumina in 2019 is considered to have significant growth compared to the production and sales achievements in 2018 of 13,000 and 8,000 tonnes of alumina, respectively.

He also added: "Amid the challenges of factory operations and product marketing aspects in the condition of fluctuating selling prices, alumina commodities are expected to be able to make increasingly positive contributions to the Company's performance in the future.”

Antam still has a financial position that is strong enough to support business development initiatives with a cash and cash equivalent value of Rp 3.64 trillion. Achieving performance in 2019 will be the foundation for improving performance in 2020, through business innovation efforts in optimizing available resources by promoting efficient cost management, to create positive added value for shareholders and stakeholders.

Antam's current key project, which includes the 13,500 TNI Ferronickel Haltim Factory Construction Project (P3FH), has reached 97.75% construction realization by the end of 2019. While in the development of bauxite commodities, the company is currently focusing on the construction of a Smelter Grade Alumina plant. The refinery cooperates with PT Indonesia Asahan Aluminum (Inalum) which has a processing capacity of 1 million tons of SGA per year (phase 1).

Kunto concluded: "In line with the Company's development strategy, we are always open to establishing partnerships with strategic partners based on profitable profitability in developing nickel-based, gold and bauxite downstream projects.”