Antam Lyrics Gold Mine in the Middle East, Ready to Participate in the Auction

Illustration. (Photo: Dok. Antara)

JAKARTA - PT Aneka Tambang Tbk (ANTM) admitted that it was actively looking for other gold sources, one of which was with plans to auction gold mines from blocks in the Middle East.

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Director of Business Development of ANTM I Dewa Wirantaya explained, Antam continues to prioritize business development both organically and non-organically, one of which is the plan to merge and acquire potential mines.

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"We have looked at several locations to follow international auctions such as in the Middle East, in the Middle East and in Kazakhstan and so on," Dewa said, quoted Tuesday, December 16.

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Dewa added that, on the domestic side, Antam was also aggressive in mapping several potential companies to be acquired. Dewa said, Antam's business maneuver would be to increase the shareholding in a number of affiliated companies.

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"The potential of the company that we are minority in the joint venture for us to increase our shares so that we can be consolidated from where we are," continued Dewa.

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Previously, PT Aneka Tambang Tbk (ANTM) President Director Achmad Ardianto admitted that he had difficulty finding Indonesian gold supplies.

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The reason is that the Pongkor gold mine is currently only able to produce 1 ton of gold per year. Meanwhile, the demand for gold in the community reaches 40 tons per year.

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"The question is that Antam's mine, which is currently the only one in Pongkor, produces only 1 ton a year. Only 1 ton a year, while the community's needs last year were 37 tons, now 43 tons," he said in a Public Hearing with Commission VI of the Indonesian House of Representatives, Monday, September 29.

"To meet these requirements, Didi, who is familiar with Ardianto, said his party has standards in meeting its needs.

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To meet these requirements, Didi, Ardianto's nickname, said his party had standards in meeting its needs.

First, Antam carried out a buyback mechanism.

The next step taken by Antam is to buy gold from mines in the country that carry out purification at Antam's factory.