JAKARTA (Yosefardi) – State miner PT Aneka Tambang (Antam) Tbk (ANTM) plans to issue bonds worth Rp1 trillion in second half of this year, to fund expansion of nickel project in Pomalaa.
Djaja Tambunan, Antam’s finance director, said the company has no plan to issue global bond.
Antam continues developing downstream projects, new mines, assets acquisition and improvement of productivity and efficiency for boosting revenues.
It also develops strategy for developing its core commodities such as nickel, gold, and bauxite. ANTM has gold reserves and resources of 9.4 million dry million tons (dmt), nickel reserves and resources of 825.3 million wmt and 473.8 million wmt of bauxite.
ANTM is preparing some strategic projects such as coal fired power plant in Pomalaa which costs US$496.27 million, ferronickel project in East Halmahera (US$1.6 billion), sponge iron project (US$150 million), smelter grade alumina (SGA) Mempawah (US$1.5 billion), and chemical grade alumina (CGA) Tayan (US$490 million).