ANTAM Builds Synergy with PT Pos Indonesia (Persero) in Expanding Gold Sales Distribution
Home News, Reports and Presentations News Releases
Jakarta, October 26th, 2015 - PT ANTAM (Persero) Tbk (ANTAM; ASX – ATM; IDX – ANTM) is pleased to announce that the company continues to expand its gold business through the network of PT POS Indonesia (Persero). The cooperation was marked by the signing of Memorandum of Understanding (MoU) between ANTAM and PT POS Indonesia (Persero) by ANTAM's President Director, Tedy Badrujaman and Acting President Director of PT POS Indonesia (Persero), Poernomo, today in Bandung.
ANTAM's President Director, Tedy Badrujaman said:
The collaboration between ANTAM and PT POS Indonesia (Persero) serves as the foundation of maximising both companies' prospects. The synergy also delivers added value to the public by providing easier access in gold purchase throughout Indonesia. Further the public can also access ANTAM's gold products at the company's 11 Logam Mulia (LM) Boutiques in 9 major cities in Indonesia. ANTAM aims a 30%-40% increase of domestic gold sales following the cooperation.
In addition, inline with gold business expansion, ANTAM plans to open additional Logam Mulia Gold Boutiques in potential major cities to increase sales and other business opportunities. ANTAM also offers precious metals depository services, BRANKAS, to provide a safe and easy access for gold investing to the public.
Gold remains one of ANTAM's main commodities in addition to nickel and bauxite. ANTAM's gold business is comprised of the Pongkor and Cibaliung gold mines as well as the Logam Mulia Precious Metals Processing and Refinery plant. In 2014, ANTAM posted 9.9 tons of gold sales worth Rp4.93 trillion. Until first half of 2015, sales of gold including jewellery rose 180% over the same period last year to 10.9 tons, amounting Rp5.65 trillion.