JAKARTA (Yosefardi) – State miner PT Aneka Tambang Tbk (ANTM) cuts its capital expenditure (capex) by 55% to Rp1.8 trillion for this year from initial plan Rp4 trillion as commodity prices has not recovered yet.
For next year, ANTM sets capex of Rp1.2-1.5 trillion. The company will boost its gold trading to 13 tons this year, compared to 9.5 tons last year. It also targets to sell 18,000 tons ferronickel this year and 160,000 tons of allumina.
Also state tin producer PT Timah Tbk (TINS) also cuts its capex by 30% to Rp840 billion for this year compared to initial plan Rp1.2 trillion as it is now evaluating its investment.
Timah said it had booked 50% revenue target in the first half of this year although tin prices is remain low, at below US$23.