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| Unlocking the Potential of Nickel in Pongkeru Block: Antam Forms Joint Venture. |
Antam, officially PT Aneka Tambang Tbk (ANTM), is taking a significant step in nickel mining development by forming a joint venture with PT Sulsel Citra Indonesia (SCI) and PT Luwu Timur Gemilang (LTG).
This collaboration aims to optimize the nickel potential in the Pongkeru Block, located in East Luwu, South Sulawesi.
Nico Kanter, Antam's President Director, highlighted that this joint venture represents a powerful synergy between state-owned enterprises (BUMN) and regional government-owned entities (BUMD). The goal is to tap into the rich nickel resources of Pongkeru Block in a sustainable and responsible way.
The joint venture will oversee mining activities in the designated mining area (WIUPK) of Pongkeru Block, as per the decree issued by the Ministry of Energy and Mineral Resources (ESDM), SK No. T-304/MB.04/MEM.B/2024.
Antam expects this collaboration to make a significant impact on the nickel industry in Indonesia, contributing greatly to the national mining sector.
“This partnership marks a crucial step in managing nickel resources responsibly and sustainably, following the principles of good mining practice. We believe that the cooperation between BUMN and BUMD will create long-term value for the national nickel industry,” Nico stated.
In this joint venture, Antam holds the majority share, while SCI, representing the province’s BUMD, and LTG, representing the local BUMD, have minority yet substantial stakes.
The aim is to ensure that regional entities play a vital role in the mining sector’s growth.
Looking ahead, the partnership is expected to generate real benefits for local governments, communities, and the economy.
These include increasing regional revenues, improving public welfare, and creating new job opportunities.
“With the support of key stakeholders, we are confident that this joint venture will significantly contribute to local economic development and improve the quality of life for the surrounding communities,” Nico added.
Antam Gold Prices Hit Record High: What’s Next for ANTM Stock?
In a separate development, Antam’s gold prices have reached an all-time high. According to Andhika Cipta Labora, an equity analyst at Kanaka Hita Solvera, the rise in gold prices comes as inflation in the U.S. has dropped to 3%, nearing the Federal Reserve's target of 2%.
This situation opens up the possibility of the Federal Reserve lowering interest rates in the second half of 2024, which has been a positive sentiment for gold prices.
"When interest rates go down, investors tend to turn to gold, as it’s seen as a more profitable investment compared to other options," Andhika explained.
On Tuesday, July 16, 2024, Antam's gold price rose by IDR 4,000, reaching IDR 1,403,000 per gram. Meanwhile, the buyback price increased by IDR 3,000 to IDR 1,267,000 per gram.
Andhika recommends a “Buy on Weakness” strategy for ANTM stocks, with a target price of IDR 1,500.
Despite the surge in gold prices, ANTM’s shares dropped by 0.74% to IDR 1,340 on the same day.
Antam Boosts Digital Innovation for Better Customer Experience
Antam is not only focusing on mining but also on improving its services. Hartono, Antam’s Director of Operations and Production, stated that the company remains committed to enhancing customer satisfaction through quality products and services.
"Maintaining customer trust and satisfaction is essential for Antam, which is why we continuously innovate and adapt to market needs and technological developments," said Hartono.
In 2023, Antam achieved an impressive score of 85.61 on its Customer Satisfaction Index (CSI) for precious metal products, an improvement from the previous year.
The CSI for base metals, such as ferronickel, nickel ore, and bauxite, also increased, with a score of 90.63.
To further enhance customer communication, Antam introduced ALMIRA, a platform that allows customers to provide feedback and suggestions more easily.
Hartono emphasized that listening to customer input is key to maintaining and growing trust in Antam’s brand.
With these initiatives, Antam is well-positioned to continue providing excellent service while leveraging the full potential of its resources, both in the nickel sector and beyond.
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