PT Aneka Tambang Tbk, colloquially known as Antam, is an Indonesian mining company. The company primarily produces gold and nickel, and is the largest producer of nickel in Indonesia. Until 2017, Antam was a directly

state-owned company A state-owned enterprise (SOE) is a Government, government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn Profit (econom ...

, before its ownership was transferred to PT Indonesia Asahan Aluminium (Persero) (Inalum), a government-owned holding company.

History

Antam was established in 1968 by the Indonesian government under

Suharto Suharto (; ; 8 June 1921 – 27 January 2008) was an Indonesian army officer and politician, who served as the second and the longest serving president of Indonesia. Widely regarded as a military dictator by international observers, Suharto ...

by merging multiple state-owned mining companies. It became a

limited company In a limited company, the liability of members or subscribers of the company is limited to what they have invested or guaranteed to the company. Limited companies may be limited by Share (finance), shares or by guarantee. In a company limited by ...

in 1974, and began listing in the

Jakarta Stock Exchange Jakarta Stock Exchange (JSX) (Indonesian: Bursa Efek Jakarta (BEJ)) was a stock exchange based in Jakarta, Indonesia, before it merged with the Surabaya Stock Exchange to form the Indonesia Stock Exchange. History Originally opened in 1912 under ...

in 1997. In 2017, its ownership was transferred from the Indonesian government (which controlled 65 percent of the company's shares) to Inalum in a move intended to create a national holding company. Due to a government ban on the export of unprocessed ores, Antam began construction of smelter facilities for ferronickel and alumina. In 2020, it was announced that Antam would form a joint venture with

Pertamina PT Pertamina (Persero), formerly abbreviated from ''Perusahaan Pertambangan Minyak dan Gas Bumi Negara'' (lit. 'State Oil and Natural Gas Mining Company'), is an Indonesian state-owned oil and natural gas corporation based in Jakarta. It was cr ...

and PLN to form an

electric vehicle An electric vehicle (EV) is a vehicle that uses one or more electric motors for propulsion. It can be powered by a collector system, with electricity from extravehicular sources, or it can be powered autonomously by a battery (sometimes cha ...

battery company, to be dubbed Indonesia Baterai. Antam's position in the venture is as a provider of upstream raw materials and metals. There are plans for the company to partner with

Contemporary Amperex Technology Contemporary Amperex Technology Co. Limited (), abbreviated as CATL, is a Chinese battery manufacturer and technology company founded in 2011 that specializes in the manufacturing of lithium-ion batteries for electric vehicles and energy storage s ...

and

LG Chem LG Chem Ltd. (Korean: LG화학), often referred to as LG Chemical, is the largest Korean chemical company and is headquartered in Seoul, South Korea. It was the 10th largest chemical company in the world by sales in 2017. It was first established ...

in two projects worth US$ 12 billion.

Operations

As of 2015, Antam was a producer of

bauxite Bauxite is a sedimentary rock with a relatively high aluminium content. It is the world's main source of aluminium and gallium. Bauxite consists mostly of the aluminium minerals gibbsite (Al(OH)3), boehmite (γ-AlO(OH)) and diaspore (α-AlO(O ...

ferronickel Ferroalloy refers to various alloys of iron with a high proportion of one or more other elements such as manganese (Mn), aluminium (Al), or silicon (Si). They are used in the production of steels and alloys. The alloys impart distinctive qualitie ...

gold Gold is a chemical element with the symbol Au (from la, aurum) and atomic number 79. This makes it one of the higher atomic number elements that occur naturally. It is a bright, slightly orange-yellow, dense, soft, malleable, and ductile met ...

nickel Nickel is a chemical element with symbol Ni and atomic number 28. It is a silvery-white lustrous metal with a slight golden tinge. Nickel is a hard and ductile transition metal. Pure nickel is chemically reactive but large pieces are slow to ...

and

silver Silver is a chemical element with the Symbol (chemistry), symbol Ag (from the Latin ', derived from the Proto-Indo-European wikt:Reconstruction:Proto-Indo-European/h₂erǵ-, ''h₂erǵ'': "shiny" or "white") and atomic number 47. A soft, whi ...

. It is Indonesia's largest producer of nickel, and it lost considerable amounts of revenue and profits following a nickel ore ban. Antam's gold operations was the primary contributor of the company's revenue, making up 71 percent of its Q1 2018 revenue. Antam is the only Indonesian gold refiner to be accredited by the

London Bullion Market Association The London Bullion Market Association (now known simply as LBMA), established in 1987, is the international trade association representing the global Over The Counter (OTC) bullion market, and defines itself as "the global authority on precious ...

References

{{authority control Mining companies of Indonesia Companies based in Jakarta Indonesian companies established in 1968 Non-renewable resource companies established in 1968 Companies listed on the Indonesia Stock Exchange Companies listed on the Australian Securities Exchange Government-owned companies of Indonesia 1997 initial public offerings