Aneka Tambang

PT Aneka Tambang Tbk, colloquially known as Antam, is an Indonesian mining company. The company primarily produces gold and nickel, and is the largest producer of nickel in Indonesia. Until 2017, Antam was a directly state-owned company, before its ownership was transferred to PT Indonesia Asahan Aluminium (Persero) (Inalum), a government-owned holding company.

PT Aneka Tambang Tbk.
TypePublic
IDX: ANTM
IndustryMining
Metallurgy
Founded1968
HeadquartersJakarta, Indonesia[1]
Revenue Rp 25.2 trillion (2018)[2]
Rp 874 billion (2018)[2]
Number of employees
2,598[2]
ParentPT Indonesia Asahan Aluminium (Persero)
Websiteantam.com
Antam office

History

Antam was established in 1968 by the Indonesian government under Suharto by merging multiple state-owned mining companies. It became a limited company in 1974, and began listing in the Jakarta Stock Exchange in 1997.[3] In 2017, its ownership was transferred from the Indonesian government (which controlled 65 percent of the company's shares) to Inalum in a move intended to create a national holding company.[4]

Due to a government ban on the export of unprocessed ores, Antam has began construction of smelter facilities for ferronickel and alumina.[5]

In 2020, it was announced that Antam would form a joint venture with Pertamina and PLN to form an electric vehicle battery company, to be dubbed Indonesia Baterai. Antam's position in the venture is as a provider of upstream raw materials and metals. There are plans for the company to partner with Contemporary Amperex Technology and LG Chem in two projects worth US$ 12 billion.[6][7][8]

Operations

As of 2015, Antam was a producer of bauxite, ferronickel, gold, nickel and silver.[9] It is Indonesia's largest producer of nickel, and it lost considerable amounts of revenue and profits following a nickel ore ban.[1] Antam's gold operations was the primary contributor of the company's revenue, making up 71 percent of its Q1 2018 revenue.[10] Antam is the only Indonesian gold refiner to be accredited by the London Bullion Market Association.[11]

References
  1. "PT Aneka Tambang Persero Tbk". Nikkei. Retrieved 12 September 2019.
  2. "2018 Annual Report" (PDF). Antam. Retrieved 12 September 2019.
  3. "Brief History of ANTAM". Antam. Retrieved 12 September 2019.
  4. "Indonesia's Inalum given control of state miners ahead of larger..." Reuters. 28 November 2017. Retrieved 12 September 2019.
  5. "Antam races against time to build smelter". The Jakarta Post. 19 March 2019. Retrieved 16 September 2019.
  6. Prakoso, Rangga (14 October 2020). "Indonesia Reveals $12b Plan to Create Electric Car Battery Giant". Jakarta Globe. Retrieved 15 October 2020.
  7. "Indonesia to create firm to build up electric vehicle battery industry". Reuters. 13 October 2020. Retrieved 15 October 2020.
  8. "Top battery makers in talks over US$20b Indonesia electric vehicle plans". The Straits Times. 14 October 2020. Retrieved 15 October 2020.
  9. "2015 Minerals Yearbook - Indonesia" (PDF). United States Geological Service. Retrieved 12 September 2019.
  10. "Indonesian Coal Mining Companies in Focus: Aneka Tambang (Antam)". Indonesia Investments. 24 June 2018. Retrieved 12 September 2019.
  11. "Good Delivery List". London Bullion Market Association. Retrieved 12 September 2019.
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