PT Antam (Persero) Tbk

ANTAM Is Committed To Focus On Its Core Commodities Of Gold, Nickel And Bauixte
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Jakarta, July 2, 2013 - PT ANTAM (Persero) Tbk (ASX-ATM; IDX-ANTM; ANTAM) today announces management's commitment to focus on the company's core commodities of gold, nickel and bauxite. The strategy is implemented with the development of downstream projects, opening of new mines, acquisition of mining assets as well as productivity and efficiency improvement of the company's production facilities.

ANTAM's President Director, Tato Miraza, said:
"Supported with our gold reserves and resources of 9.4 million dmt, and nickel and bauxite reserves and resources of 825.3 million wmt and 473.8 million wmt, respectively, we are confirming our strategy to focus on our key commodities of gold, nickel and bauxite. For gold, we are focusing to find new prospects coupled with exploring all possible opportunities as evidenced with the acquisition of Cibaliung mine in 2009 and the stake purchase at Gosowong mine in 2012. In terms of nickel and bauxite development, we believe the development of downstream projects will increase the value of our stakeholders."  

ANTAM currently operates the Pongkor gold mine in West Java and Cibaliung gold mine in Banten with a combined annual gold output of around 3 tons. ANTAM also owns 25% of PT Nusa Halmahera Minerals which operates the Gosong mine in North Maluku. As of December 31, 2012, ANTAM's gold reserves and resources amount to 9 million dmt with contained gold metal of 1.6 million ounces. Meanwhile, As of December 31, 2012, the Gosowong mine has 9.3 million dmt gold reserves and resources with contained gold metal of 3.6 million ounces. At the beginning of June 2013 ANTAM received an extension of forest borrow and use license for Pongkor gold mine until 2021.

ANTAM's nickel reserves and resources as of December 31, 2012 amount to 825.3 million wmt located at the nickel prospects of Tanjung Buli, Pakal Island, Mornopo, Sangaji, Tapunopaka, Mandiodo, Bahubulu, Lalindu and Lasolo. ANTAM's nickel prospects are located in the North Maluku and Southeast Sulawesi provinces. Currently ANTAM is operating the nickel mines of Pomalaa, Tanjung Buli, Pakal Island and Tapunopaka. For nickel, ANTAM is developing the US$1.6 billion East Halmahera Ferronickel (FHT) project and the US$350-400 million Mandiodo Nickel Pig Iron (NPI) project. Construction of FHT project is currently underway with the feasibility study of the Mandiodo NPI project is being reviewed internally following the FS completion by an independent party. ANTAM is also completing the US$450-500 million Pomalaa Ferronickel Plants Expansion project. The project aims to increase the capacity and efficiency of ANTAM's ferronickel plants in Pomalaa. The project also includes the development of a 2x30MW coal fired power plants to lower the ferronickel cash cost.

In developing ANTAM's 473.8 million wmt bauxite reserves and resources, ANTAM is currently developing the Tayan Chemical Grade Alumina (CGA) project and the Mempawah Smelter Grade Alumina (SGA) project. The EPC progress of the Tayan CGA project is 94% as of May 2013 with expected commissioning in October 2013. The term of Chemical Grade Alumina (CGA) refers collectively to aluminium hydroxide and alumina for applications other than aluminium smelting. As an example, aluminium hydroxide, an intermediate product in alumina production, is used as coagulant for water purification. While alumina is widely used for the smelting of aluminium metal, alumina is also used in the production of functional materials and electronic materials. Applications include refractories, abrasives, building materials, IC packaging, and materials for LCD glass.

The feasibility study of the Mempawah SGA project is currently being reviewed following FS completion by an independent party.

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