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Antam records fivefold growth in profit
Diversified mining company PT Aneka Tambang recorded Rp 874.42 billion (US$61.13 million) in profit in 2018, marking a fivefold increase from the profit collected in 2017.
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Employees are at work at the offices of PT Aneka Tambang (Antam). (Tempo/Dasril Roszandi)
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iversified mining company PT Aneka Tambang recorded Rp 874.42 billion (US$61.13 million) in profit in 2018, marking a fivefold increase from Rp 136.50 billion booked in 2017
The improved performance is attributed to increasing production and sales of nickel, gold and bauxite, which are the main commodities of the company, according to a press statement issued by the company recently.
“The efficiency measures also cut our operational costs," the press release said, adding that the positive sales performance reflected in revenue of Rp 25.24 trillion, more than double the Rp 12.65 trillion achieved in 2017.
The firm achieved an all-time record in gold sales at 27 tons, up 111 percent from the 13 tons sold in 2017.
Revenue from gold sales, the main contributor to the company’s sales, reached Rp 16.69 trillion in 2018, up 126 percent from Rp 7.37 trillion in the preceding year.
Ferronickel sales brought in Rp 4.66 trillion in 2018, up 18 percent from 2017.
Nickel ore posed the highest increase in sales last year at 6.33 million wet metric tons (wmt), 116 percent higher than in 2017. (bbn)
