ID :
21268
Fri, 09/26/2008 - 00:05
Auther :
Shortlink :
http://m.oananews.org//node/21268
The shortlink copeid
ANTAM TO INCREASE NICKEL PRODUCTION
Jakarta, Sept 25 (ANTARA) - The president director of PT Aneka Tambang (Antam), Alwinsyah Loebis, said here on Thursday the company planned to increase its nickel production from 17,000 tons to 18,000 tons to anticipate a drop in the sale value as a result of declining prices.
He said he was optimistic the company's production of nickel this year could increase to 4,000 tons from last year's 14,000 tons.
He said the price of nickel in the international market had continued to drop since the second quarter of 2008.
In the period the price of the commodity reached US$12 per pound but it now slumped to only US$8 per pound, he said.
Alwinsyah however hoped the price could again reach US$10 per pound by the end of the year. "The price of nickel is projected to go up and down at around US$8 per pound before rising at the end of the year," he said.
He said contribution of nickel to Antam's total sale value continued to decline.
Alwinsyah admitted the value of nickel sales from year to year dropped while the sales of gold and aluminium rose.
At the end of 2007 nickel's contribution to the company's total sale value reached 90 percent but it dropped to only 21 percent in the first semester of 2008.
On the other hand contribution of gold to the company's total sales value in the same period rose by around 21 percent, he said.
At present the company is still completing its chemical grade alumina development project in Tayan, West Kalimantan, which is expected to start production in 2010.
"Following the start of alumina production in 2010 contribution of mining products to the company's total sales value would be balanced namely nickel 50 percent, gold 20 percent and alumina 30 percent," he said.
He said he was optimistic the company's production of nickel this year could increase to 4,000 tons from last year's 14,000 tons.
He said the price of nickel in the international market had continued to drop since the second quarter of 2008.
In the period the price of the commodity reached US$12 per pound but it now slumped to only US$8 per pound, he said.
Alwinsyah however hoped the price could again reach US$10 per pound by the end of the year. "The price of nickel is projected to go up and down at around US$8 per pound before rising at the end of the year," he said.
He said contribution of nickel to Antam's total sale value continued to decline.
Alwinsyah admitted the value of nickel sales from year to year dropped while the sales of gold and aluminium rose.
At the end of 2007 nickel's contribution to the company's total sale value reached 90 percent but it dropped to only 21 percent in the first semester of 2008.
On the other hand contribution of gold to the company's total sales value in the same period rose by around 21 percent, he said.
At present the company is still completing its chemical grade alumina development project in Tayan, West Kalimantan, which is expected to start production in 2010.
"Following the start of alumina production in 2010 contribution of mining products to the company's total sales value would be balanced namely nickel 50 percent, gold 20 percent and alumina 30 percent," he said.
