ANTAM Conducts the Second Series of Meetings with Key Institutional Investors
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Jakarta, June 3, 2016 - PT ANTAM (Persero) Tbk (IDX: ANTM; ASX: ATM; ANTAM) is pleased to announced that the company has conducted the second series of meetings with key Indonesia institutional investors following the first series of meetings at the end of May 2016. The meetings aim to create awareness on the company’s strategy, performance and business outlook. The majority of the institutional investors participants at the second series of meetings were pension funds. ANTAM is also planning to hold similar meetings with retail investors and the press.
ANTAM’s Finance Director, Dimas Wikan Pramudhito said,
During the meetings, ANTAM focused to create awareness on the construction sustainability of the Haltim Ferronickel Plant Development Project (P3FH). ANTAM also provided the updates on the construction of the Pomalaa Ferronickel Expansion Plant Project (P3FP) which were expected to complete in 2016. Completion of the project, coupled with the switch on of ANTAM’s Electric Smelting Furnace No. 2 will support the company’s 2016 ferronickel production target of 20,000 tonnes of nickel contained in ferronickel (TNI). ANTAM’s P3FP also includes the development of a 2x30MW Coal Fired Power Plant which is expected to lower the energy and the ferronickel costs.
ANTAM also addressed the progress of Smelter Grade Alumina Refinery (SGAR) Project in Mempawah, in which ANTAM had signed a joint venture agreement with PT INALUM (Persero). In terms of the Anode Slime & Precious Metal Refinery Project, ANTAM still continues its discussion with PT Freeport Indonesia and PT Smelting.