JAKARTA (Yosefardi) – State miner PT Aneka Tambang (Antam) Tbk (ANTM) expects the export ban implemented for crude minerals, including nickel ore, could impact on revenue loss of US$350-400 million.
Tato Miraza, Antam’s president director, said the company will take some efforts to respond the impact of export ban, such as improving cost efficiency and postpone some projects.
Antam booked net profit of Rp409.95 billion in 2013, dropped 86% from Rp2.99 trillion in 2012. Sales increased to Rp11.29 trillion from previous Rp10.45 trillion.
It will pay dividend of 92.2 billion, representing 22% of 2013’s profit. While the rest Rp317 billion is set for the retained profit.
Antam’s assets totaled Rp21.86 trillion while liability amounted Rp9.07 trillion. It has cash and cash equivalent of Rp2.79 trillion.
Antam earlier said it targets a 45% higher gold sales to 13,570 kg (436,286 oz) this year, as part of its strategy to anticipate Indonesia’s ore export ban.
Antam also targets ferronickel production of 19,700 tons of nickel contained in ferronickel (TNi) this year, a 36% increase over 2013 sales.
Antam also expects sales of the new Chemical Grade Alumina (CGA) commodity to commence this year, targeting sales of 125,000-130,000 tons of CGA.