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4-Traders Homepage  >  Equities  >  INDONESIA STOCK EXCHANGE  >  Aneka Tambang (Persero) Tbk PT    ANTM   ID1000106602

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PT Aneka Tambang Tbk : Antam Switches On Feni II Smelting Plant

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04/13/2012 | 03:57am CEST
PT ANTAM (Persero) Tbk ANTAM SWITCHES ON FENI II SMELTING PLANT Optimisation to improve operational e?ciency and safety level

FOR MORE INFORMATION PLEASE CONTACT:

Ir. Tedy Badrujaman, MM (Corporate Secretary)

Tel : (6221) 789 1234

Fax : (6221) 789 1224

Email :

corsec@antam.com
Website: www.antam.com

For Immediate Release

Jakarta, April 12th, 2012 - PT ANTAM (Persero) Tbk (IDX: ANTM; ASX: ATM; Antam) is pleased to announce it has switched on the FeNi II ferronickel smelter following the completion of its optimisation program. The optimisation on FeNi II began Janu- ary 21, 2012. Switch on of the smelter begins today on April 12,

2012 during an o?cial ceremony held at Antam's Southeast Su- lawesi Nickel Mining Business Unit at Pomalaa in Southeast Sula- wesi. The optimisation program ?nished earlier than expected and costing less than the budgeted Rp187 billion. Antam partial- ly funded the optimisation program from the Rupiah denomi- nated bonds issued at the end of last year. Following the switch on, the load will gradually be increased and a return to full load is expected by May 2012. Antam aims to increase the operati- onal e?ciency and safety level of the smelter following the opti- misation program.
Antam's President Director, Alwinsyah Lubis said:

"The optimisation of FeNi II smelter is part of our strategy to improve operational e?ciency and safety level. Soon, we will also begin the modernisation and optimisation project of FeNi I smelter, which includes the development of a 2 x 30MW coal ?red power plant, increasing the capacity of FeNi smelter, the development of Rotary Kiln 4 and upgrades of supporting facilities such as the jetty and belt conveyor."

The 75-days optimisation program included the replacement of the furnace roof, utilising an improved design as well as the op- timisation of the furnace sidewall through the reinforcement of the copper cooler system to improve the e?ciency of the ener- gy use. Antam also plans to install Gas Cleaning Technology si- milar to Furnace-3 to reduce the emission level of the smelter. Despite the 75-days optimisation program, Antam maintains its ferronickel production target of 18,000 tons of nickel contained in ferronickel (TNi) in 2012.
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Financials ( IDR)
Sales 2016 10 196 B
EBIT 2016 -118 B
Net income 2016 -590 B
Debt 2016 4 323 B
Yield 2016 -
P/E ratio 2016 -
P/E ratio 2017
EV / Sales 2016 1,99x
EV / Sales 2017 1,70x
Capitalization 15 980 459 M
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Buy
Mean consensus HOLD
Number of Analysts 4
Average target price 530  IDR
Spread / Average Target -20%
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Managers
NameTitle
Tedy Badrujaman President Director
Fachrul Razi President Commissioner
Agus Zamzam Jamaluddin Director-Operations
Dimas Wikan Pramudhito Director-Finance
Ajab Taofik Hidayat Vice President-Technology Development
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