ANTM – Targets to sell 37 tons of gold in 2024

ANTM – Targets to sell 37 tons of gold in 2024 Aneka Tambang (ANTM) targets gold production of 958 kg and gold sales of 37 tons in line with the increase in precious metal prices in 2024. To achieve this target, ANTM continues to optimize production from mines in West Java. ANTM also refocused the domestic market as the target market by expanding transaction services through various sales channels, such as websites, Butik Emas Logam Mulia Antam network and exhibitions. As of July 5, 2024, spot gold prices are at the level of USD2,392.16 per troy ounce (+15.96% ytd). Futhermore, the price of ANTM gold has also reached IDR1.39 mn per 1 gram as of July 7, 2024. Note that, ANTM posted revenue of IDR8.62 tn (-25.63% yoy) and net profit of IDR234.37 bn (-85.66% yoy) in 1Q24. The decline in performance was due to exposure to nickel segment sales. (Source: Bisnis Indonesia)