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Indonesia: Record Positive Performance, Antam Gold Sales Rise 147%

21 October 2020


Mining company PT Aneka Tambang Tbk (ANTM) announced that the company recorded positive growth in ANTAM's gold segment performance in the 3rd quarter (July-September 2020, 3Q20) in line with growing awareness of investing in gold amid the rising trend of gold prices and fluctuations in currency exchange rates. foreign money.


Based on the company's information on the IDX disclosure, (21/10/2020), throughout the 3Q20 period, ANTAM recorded an unaudited gold sales level of 6,967 Kg (223,994 t oz), a significant growth of 147% compared to gold sales achievements in the second quarter of 2020 ( April-June 2020, 2Q20) which reached 2,818 Kg (90,600 t oz).Cumulatively, ANTAM's unaudited performance in gold sales during the first nine months of 2020 (January-September 2020, 9M20) was recorded at 14,882 Kg (478,467 t oz).


In order to maintain service quality in the midst of the new normal conditions for the Covid-19 pandemic, ANTAM continues to innovate sales of Logam Mulia gold products by prioritizing online gold sales & buyback transaction mechanisms. Through the Logam Mulia Gold Boutique network spread across 11 cities in Indonesia and sales canvasing in several locations, ANTAM runs its operations by establishing strict health protocols. ANTAM has a solid commitment to increase added value and maintain the prime quality of Logam Mulia's gold products, which is the top brand in Indonesia, ”wrote a company statement, in Jakarta.


The Company emphasizes that it has participated in implementing strict health protocols in line with ANTAM's efforts in maintaining the continuity of the Company's production, sales and development operations in the midst of the current new normal conditions for the Covid-19 pandemic. This supports ANTAM's positive unaudited gold production from the Pongkor and Cibaliung mines during the 3Q20 period of 430 Kg (13,825 t oz), growing 6% from 2Q20 production of 404 Kg (12,988 t oz). With this achievement, ANTAM's unaudited gold production during 9M20 reached 1,280 kg (41,153 t oz).In line with improving global economic conditions and growing levels of demand for gold, especially in the domestic market, ANTAM is optimistic to be able to increase the profit margin from the gold business in 2020 in line with ANTAM's efforts to improve business competitiveness through diversification of gold products, customer service, and cost efficiency strategies. appropriate and optimal. (*)