Antam Aims For A Gold Factory In Gresik To Start Operation By The End Of 2027

JAKARTA - PT Aneka Tambang Tbk (ANTM) targets its precious metal manufacturing plant to start production in the IV quarter of 2027.

President Director of Antam, Achmad Ardianto said, the byang project namedvere will produce gold with a purity level of 99.99 percent with a production capacity of 30 tons or up to 5 million gold minted bars and coins.

"It is hoped that in 2027 in the fourth quarter it will be able to commission," said Achmad, quoted on Thursday, July 17.

Achmad said the construction of this new factory was in line with the high demand for gold from time to time. In addition, the growth of public awareness to use gold as an investment instrument and also for hedging or having values is increasing.

"Gold sales such as Antang also through its national brand Logamuria also continue to increase so that it really needs gold raw materials," he continued.

Later, the gold raw materials for this factory will come from mines in Indonesia. Currently, we are also, he said, Antam has collaborated with a subsidiary of MIND ID, PT Freeport Indonesia (PTFI) to be able to take full advantage of the gold produced by Freeport.

"And also used by the Indonesian people. Purchased in the form of pieces of gold which are the original products of the Indonesian nation," added Achmad.

The project, which is located in Gresik, East Java, has an investment value of 70 million US dollars and is still in the pre-construction stage.