Human Resources Management Policy
Antam’s Human Resources department focused on motivation and training in order to enhance the knowledge, skills, and attitudes of the employees, which supports career development opportunities and improves employee productivity.

At the end of 2003, Antam had 3,547 employees, consisting of 3,421 permanent employees and 126 non-permanent employees. In line with the goal of a slim but efficient organization, the number of employees in 2003 was reduced 5% compared to 2002, due to early retirement at the Gebe Nickel Mine, which is nearing the end of its mine life. As in 2002, there were no resignations in 2003; therefore the turnover rate was 0%. Antam plans to reduce the work force to 3,100 by the end of 2004.

Training and Development
In 2003, Antam spent Rp9.9 billion on employee education and training, an increase of 10% compared to 2002. The average expense per employee was 2.79 million an increase of 13% over the Rp2.47 million of 2002. The training expense included formal education for graduate programs in management and business for 3 employees inside and outside of the country. The number of business days used for training in 2003 reached 5% of days worked, an increase compared to the 4% of 2002. Antam has budgeted Rp8.6 billion for human resources training and development in 2004.

Productivity
The net profit per employee increased 6.5% to Rp63.9 million per person in comparison with 2002. The increase is due to higher commodity prices and, to a lesser degree, a smaller workforce. Ferronickel production per employee was 2.52 tonnes of nickel per person, an increase of 3% compared to that in 2002. This amount includes the 597 tonnes produced via toll smelting with Pamco. Gold production per employee increased 11% to 1.18kg per person, in line with increased gold ore production.

Succession
Antam prepared a succession program, including candidate development, to ensure the flawless succession of top management. The goal is to ensure a leadership that will improve Antam’s performance and growth. The succession policy allows for the objective selection of leaders based on a full assessment of skills and other criteria.

PT ANTAM Tbk
Gedung Aneka Tambang Jl. Letjen T.B. Simatupang No. 1
Lingkar Selatan, Tanjung Barat Jakarta 12530 - Indonesia
Phone : (62 - 21) 789-1234, (62 - 21) 781-2635, Fax : (62 - 21) 789-1224
email: corsec@antam.com - www.antam.com