ANTM — Decreased nickel ore output amid rising ferronickel and gold sales in 2Q24

ANTM — Decreased nickel ore output amid rising ferronickel and gold sales in 2Q24 Aneka Tambang (ANTM) reported a mixed performance in 2Q24, marked by a significant 21% yoy decrease in nickel ore output to 2.74mn tonnes. Conversely, ferronickel production increased by 5.5%, reaching 5,380 tonnes, while bauxite production declined by 23% to 390,212 tonnes. Despite the challenges in production, ANTM achieved growth in sales volumes, with ferronickel sales rising by 7.3% yoy and gold sales soaring by 41% yoy. In contrast, nickel ore sales declined by 17% yoy, totaling 2.35mn tonnes. (Source : Bloomberg)