ANTM - Working on nickel and bauxite downstream projects

ANTM - Working on nickel and bauxite downstream projects Aneka Tambang (ANTM) is working on nickel and bauxite downstream projects and encouraging the gold business segment. One of these projects is the development of the EV ecosystem with Indonesia Battery Corporation and other strategic partners, which is targeted to start in 2029. Other projects are the construction of the RKEF plant, which is targeted to operate in 2027, and the HPAL plant, which is targeted to operate in 2028, in Buli, East Halmahera through the CBL consortium. ANTM targets to prepare the land, complete feasibility studies and related permits this year. The investment in the RKEF plant is estimated to reach USD400-500 mn with an estimated capex of USD8,000-9,000 per ton of nickel. Meanwhile, the investment in the HPAL plant project ranges from USD250-300 mn with a capex of USD24,000-30,000 per ton of nickel. ANTM will also add a nickel processing plant by acquiring a smelter from Tsingshan Group. Currently, ANTM is seeking to grow gold sales through the development of marketing channels and domestic gold sourcing from Freeport. It is estimated that ANTM's performance in 2H24 will increase due to the increase in demand and the opportunity for gold prices to increase. (Source : Kontan)