JAKARTA (Yosefardi) – State miner PT Aneka Tambang Tbk (ANTM) is seeking loan of US$100 million, equivalent Rp1.2 trillion, to fund its capital expenditure (capex) of US$220 million for next year .
The company opts to seek loan from local banks considered more efficient than loans from overseas.
ANTM allocates its working capital for modernize and optimize its ferrinickel plants and for funding its coal-fired power plant (PLTU) in Pomalaa, Southeast Sulawesi.
The company also targets its gold sales volume to grow by 21% to 8.5 tons next year, compared to 7 tons estimated for this year. As of October 2014, ANTM’s gold sales volume reached 5.6 tons, supported by sales to India, even the gold price declined. Sales to
ANTM has revised down its gold sales volume this year to 7 tons from initial target of 11.1 tons as gold market is relatively tough compared to 2013 and 2012.
ANTM mostly purchases gold from third party. It only produces 2.5 tons from Pongkor (1.5 tons) and Cibaliung (700,000 oz). ANTM is now seeking to acquire new gold mines.