JAKARTA. State-owned diversified miner PT Aneka Tambang, commonly known as Antam, recorded a 37 percent surge in sales in the first half of the year thanks to growing sales volume. The company announced on Tuesday that it reaped Rp 6.13 trillion (US$596 million) in total sales during the first six months of the year, a significant increase compared to the Rp 4.49 trillion in the same period last year. “The increase in sales was mainly due to increased sales of gold and nickel ore. While commodity prices have been declining, we have had to increase sales volume to maintain our cash flow,” president director Tato Miraza said. The company earned Rp 2.82 trillion from selling 5,493 kilograms of gold during the January-to- June period of the year, which was a 51 percent jump compared to 3,632 kilograms in the same period last year. Sales of nickel ore reached 4.5 million wet metric tons (wmt) in the first half of the year, rising by around 41 percent from 3.2 million wmt year-on-year. Another contributor to the growth in sales was ferronickel, of which the company delivered 10,302 tons of nickel (TNi) during the January-to-June period of the year, surging by 53 percent from 6,744 TNi year-on-year. Antam saw plunging average selling prices in most commodities on the back of a still weak global economy. Corporate secretary Tri Hartono said the company’s gold average selling price stood at $1,642 per troy ounce (toz) in the first half of the year compared to $1,708 per toz in the same period last year. Ferronickel’s sales price stood at $7.24 per pound in the first half of the year compared to $8,23 per pound year-on-year. The company’s high-grade nickel ores were sold at an average of $50.31 per wmt in the first half of 2013, a minor up compared to $50.01 per wmt year on year. Low-grade nickel ores were sold at $37.01 per wmt during the January-to-June period of the year, inching up from $$27.98 per wmt year on year. Figures from the London Metal Exchange (LME) quoted by Bloomberg show that the nickel price has declined 20 percent this year, making the commodity the worst performer among six base metals. Nickel for delivery in three months stood at $13,731 per ton on Tuesday, according to Bloomberg. Nickel stockpiles monitored by the LME touched a record 200,334 tons on July 23 and stood at 200,280 tons on Monday. Tato said Antam’s conservative estimation of its ferronickel price was around $7 to $7.2 per pound by year-end. Antam has not revealed its net profits for the first half of the year as they remain in limited review of the financial report. Shares in Antam, which are traded on the Indonesia Stock Exchange (IDX) under the code ANTM, closed at Rp 1,170 on Tuesday, declining by around 1.68 percent from a day earlier. (Raras Cahyafitri)Cek Berita dan Artikel yang lain di Google News
Antam sales up 37% despite low prices
JAKARTA. State-owned diversified miner PT Aneka Tambang, commonly known as Antam, recorded a 37 percent surge in sales in the first half of the year thanks to growing sales volume. The company announced on Tuesday that it reaped Rp 6.13 trillion (US$596 million) in total sales during the first six months of the year, a significant increase compared to the Rp 4.49 trillion in the same period last year. “The increase in sales was mainly due to increased sales of gold and nickel ore. While commodity prices have been declining, we have had to increase sales volume to maintain our cash flow,” president director Tato Miraza said. The company earned Rp 2.82 trillion from selling 5,493 kilograms of gold during the January-to- June period of the year, which was a 51 percent jump compared to 3,632 kilograms in the same period last year. Sales of nickel ore reached 4.5 million wet metric tons (wmt) in the first half of the year, rising by around 41 percent from 3.2 million wmt year-on-year. Another contributor to the growth in sales was ferronickel, of which the company delivered 10,302 tons of nickel (TNi) during the January-to-June period of the year, surging by 53 percent from 6,744 TNi year-on-year. Antam saw plunging average selling prices in most commodities on the back of a still weak global economy. Corporate secretary Tri Hartono said the company’s gold average selling price stood at $1,642 per troy ounce (toz) in the first half of the year compared to $1,708 per toz in the same period last year. Ferronickel’s sales price stood at $7.24 per pound in the first half of the year compared to $8,23 per pound year-on-year. The company’s high-grade nickel ores were sold at an average of $50.31 per wmt in the first half of 2013, a minor up compared to $50.01 per wmt year on year. Low-grade nickel ores were sold at $37.01 per wmt during the January-to-June period of the year, inching up from $$27.98 per wmt year on year. Figures from the London Metal Exchange (LME) quoted by Bloomberg show that the nickel price has declined 20 percent this year, making the commodity the worst performer among six base metals. Nickel for delivery in three months stood at $13,731 per ton on Tuesday, according to Bloomberg. Nickel stockpiles monitored by the LME touched a record 200,334 tons on July 23 and stood at 200,280 tons on Monday. Tato said Antam’s conservative estimation of its ferronickel price was around $7 to $7.2 per pound by year-end. Antam has not revealed its net profits for the first half of the year as they remain in limited review of the financial report. Shares in Antam, which are traded on the Indonesia Stock Exchange (IDX) under the code ANTM, closed at Rp 1,170 on Tuesday, declining by around 1.68 percent from a day earlier. (Raras Cahyafitri)Cek Berita dan Artikel yang lain di Google News
