JAKARTA. PT Aneka Tambang Tbk (ANTM) is optimistic that this year, it can increase its profit margins as the demand for nickel increases. The mining company is also exploring the European Union as a potential export destination.
SVP Corporate Secretary of PT Aneka Tambang Tbk., Kunto Hendrapawoko, said the current rise in base metal prices is a good sign for the company. In addition, the company's performance will also be supported by a decrease in ANTM's cash cost, which has become one of the lowest among global ferronickel producers, Kunto said as quoted by Bisnis on Monday (13/7).
Based on Wood MacKenzie's research, the average cash cost of global ferronickel production is around US$ 4.85 per pound. ANTM managed to reduce it to US$ 3.35 per pound in the first five months of 2020.
ANTM is currently exploring potential new markets, while also maintaining its markets in East Asia such as China and South Korea. For the domestic market, in the second half of this year, ANTM will focus on gold due to increasing demand. While the production target is set at 2 tons this year. (AM/AR)