Jakarta: PT Aneka Tambang Tbk (Antam) continues to strengthen its position as one of the global low-cost ferronickel producer with the unaudited cash cost of USD3.35 per pound for the first five month operation period in 2020.
Cumulatively, Antam’s unaudited cash cost in the first five month operation period in 2020 was 15 percent lower over the 2019 cash cost of USD3.95 per pound.
Based on the second quarter of 2020 study by Wood Mackenzie, the cumulative Antam’s ferronickel cash cost for first five month operation perod in 2020 was also below the global average cash cost of ferronickel producer of USD4.85 per pound.
Inline with the global economic recovery and positive tone on nickel demand, Antam is confident to improve its profit margins on nickel segment in 2020.
"Antam has a commitment to seek and evaluate existing and potential future opportunities," the company said in a press release on Monday.
Antam earlier announced that the company recorded the operating profit of Rp137.54 billion in the first quarter of 2020.
Last quarter, Antam’s net sales reached Rp5.20 trillion with contribution from export sales amounted to Rp1.37 trillion or 26 percent from total sales revenue. gold became the largest contributor of the company's net sales with the proportion of 76 percent or equal to Rp3.97 trillion. Meanwhile, ferronickel commodity was the second largest contributor, amounted to Rp965.95 billion or 19 percent of total net sales.
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