PT Antam Suffers Loss In First Quarter AS Price Drops

Kendari, Southeas Sulawesi (Antara Bali) - The world price of nickel dropped in the first quarter this year to make PT Aneka Tambang (Antam) Tbk. to lose Rp500 billion, a company official said.

"The world price of nickel dropped up to US$4.8 per ton,"  Dadang Hadi Pratomo, head of Pomalaa nickel business unit in Kolaka district, Southeast Sulawesi, said at an iftar with journalists here on Sunday.

He said the US$4,8 price was lower than the cost of production which reaches US$5.8 per ton.

In the first month of the third quarter, he said, the world price of nickel is starting to move up but it is US$5.2 per ton.

"It is hoped it will continue to rise so that the company will not suffer a loss again," he said.  
He said if the price did not pass US$6 per ton PT Antam could lose up to trillion rupiahs from the nickel business.

"Therefore we hope in the next few months the price will move up so that the company would not suffer a loss until the end of 2015," he said.

He admitted that the government's decision to ban exports of ore has not yet had an impact on Indonesian nickel business.

Even the price had dropped sharply when the policy was first introduced.

"The policy has not brought an impact because only Indonesia bans exports of ore while other countries like the Philippines still exports ore," he said. (WDY)