JAKARTA. PT Aneka Tambang (Persero) Tbk (ANTM) or Antam will increase its gold production to 32 tonnes amid the continues increase of the commodity's prices.
Antam CEO Arie Prabowo Ariotedjo said that this year the company has been planning to raise its gold production to 32 tonnes or more.
"Our current production target is above three tonnes of precious metals. We have raised our [gold] target to 32 tonnes, and hopefully we can reach 36 tonnes," said Mr Ariotedjo at the IDX Building, Wednesday (21/8).
Mr Ariotedjo added that Antam's gold production has been rising recently, having reached 15.4 tonnes as of the first half of 2019. However, he maintains that rising gold prices will hardly stabilise and thus there is no guarantee that it will benefit the company. "There are shocks due to the ongoing US-China trade war," he asserted.
The Comex gold price for the December 2019 contract today rose to US$ 1,518.40 per troy ounce. Mr Ariotedjo predicts that in the long term the global gold price will remain at US$ 1,40p per troy ounce. (AM/MS)