JAKARTA (Yosefardi) – State miner PT Aneka Tambang Tbk (ANTM) revealed that the government plans to launch secondary offering for 5% ANTM shares next year on hope the commodity prices will improve after the year of elections.
Now the government controls 65% stake in ANTM while the rest is held by public investors.
ANTM allocates capex of Rp2.88 trillion for this year, mostly to fund ferronickel plant expansion in Pomalaa. This project costs US$573 million.
The company also targets to sell 13.6 tons of gold this year, a 66% growth compared to 8.2 tons in 2013. While ferronickel sales is targeted to grow by 11% to 20,000 tons (TNi), from 18,000 tons in last year.
ANTM plans to commence operation of its chemical grade alumina (CGA) Tayan by end of first half of this year. Antam opted to boost the sales of gold and ferronickel following the government’s policy to ban export of minerals ore, such as nickel ore and bauxite.