ANTM – Targeting core commodity sales to grow double digits in 2024

ANTM – Targeting core commodity sales to grow double digits in 2024 Aneka Tambang (ANTM) targets sales of core commodities, such as ferronickel and gold, to grow double digits this year due to cost management strategies to maximize performance. ANTM targets ferronickel production of 22,464 TNi (+5% yoy) and ferronickel sales of 22,464 TNi (+12% yoy) this year. The target was set by considering the outlook for the absorption of ferronickel products in the global market and the utilization rate of ANTM's ferronickel plant in Kolaka, Southeast Sulawesi. ANTM also targets nickel ore production of 20.58 mn wmt (+53% yoy) and nickel ore sales of 8.75 mn wmt (+60% yoy) this year. The target is set based on the growth outlook of the nickel ore processing industry in Indonesia. ANTM targets gold production to increase by 26,129 kg (+43% yoy) with a gold mine contribution of 958 kg in 2024. ANTM continues to innovate in the sale of precious metal products and focus on increasing its customer base in the domestic market. For bauxite ore, ANTM targets production of 3.74 mn wmt (+72% yoy) in accordance with the level of bauxite demand at the CGA Tayan plant and projected bauxite ore sales to third parties in 2024. Bauxite ore sales are also targeted to increase to 3.05 mn wmt (+103% yoy) with focusing on domestic market. (Source: Investor Daily) Comment : We hold an optimistic view regarding the strong production growth anticipated for 2024, which is poised to drive higher earnings.