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[mine Quarterly report] ANTAM:2020Q2 Nickel production and sales achieve positive growth, Nickel and Iron output increased by 2% month-on-month.
Jul 24,2020 14:00CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7, July 24 / PRNewswire-FirstCall-Asianet / -, PT Aneka Tambang Tbk released a report on July 22nd that the company's unaudited nickel production and sales performance will achieve positive growth in the second quarter of 2020 (April-June 2020, 2Q20). During the second quarter of 2020, ANTAM's unaudited ferronickel production reached 6447 tons of nickel in Nickel Iron (TNi), an increase of 2 per cent over the production of 6315 TNi, in the first quarter of 2020 (January-March 2020, 1Q20).

ANTAM's unaudited Ferro Nickel sales reached 6867 TNi, up 11% from the first quarter of 2020. By the first half of 2020 (January-June 2020, 1H20), the company's unaudited ferronickel production and sales reached 12762 TNi and 13045 TNi, respectively, or equivalent to about 48 per cent of the 2020 ferronickel production and sales target, respectively.

In addition, in terms of nickel ore commodities, in the second quarter of the 20th quarter, the company produced 745000 wet tons of unaudited nickel ore as raw material for iron and nickel plants and sold to customers in the domestic market, an increase of 18% compared to the 20th quarter. The production level is 629000 wet tons. Meanwhile, ANTAM recorded unaudited nickel mine sales of 168000 wet tons in 2Q20, a significant increase compared to the first quarter of 20 years. During the 1H20 period, ANTAM recorded unaudited nickel production of 1.37 million wet tons and unaudited sales of 168000 wet tons.

In line with the global economic recovery and optimism about nickel demand, ANTAM is optimistic that it hopes to improve the profit margins of its nickel business in 2020. As part of the company's goal of improving the competitiveness of its business, the company has been implementing a number of initiatives to reduce operating cash to meet the costs of appropriate and best cost-efficient strategies through various operational innovations and strategic strategies. The effort also reflects ANTAM's unaudited nickel cash cost of $3.33 per pound during the 1H20 period, making it one of the lowest cash cost ferronickel producers in the world.

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