Antam hopes to sell 24 tons of gold bars in 2018

Jakarta (ANTARA News) - Publicly traded state-owned general mining company PT Aneka Tambang (Antam) said it hopes to sell 24 tons of gold in 2018, up 105.12 percent from last years sales of 11.7 tons.

"Gold sales by Antam in 2018 could be twice higher than in 2017 as a result of an increase in production and driven by brisker gold trade," chief executive of Antam Arie Prabowo Ariotedjo, when launching "Emas Motif Shio Anjing Tanah, Edisi Imlek (Gold with motif of Land Dog Shio, Edition of Lunar Year) 2569," here on Thursday.

Arie said it would not be too difficult for Antam to reach the gold sales target of 24 tons this year. He said in the last four months sales of gold by Antam averaged 2 tons per month.

In 2017, Antams sales of gold totaled only 11.7 tons, including 2.1 tons of its production from Pongkor of West Java and Cibaliung of Banten and the rest imported from other countries such as Singapore sold after being processed into gold bars.

The company, which also produces bauxite, copper and nickel, will open new sales outlets and distribution canals.

Currently Antam has 15 gold boutiques in a number of provinces, and it cooperates with state postal company PT Pos Indonesia and state owned pawn house PT Pegadaian to serve as gold sales outlets in 205 locations all over the country.

Antam also has expanded reseller canals at gold shops as official gold store of Antam.

Arie said Antam 50 percent of its total sales are exports to a number of other countries such as Singapore and Thailand, adding, Antam is also seeking to expand exports to Japan, South Korea, Hong Kong and India.

"We are studying possible exports to to Japan, South Korea, Hong Kong and India," he said.

Antams gold bar products have a 99.9 percent purity for all types and series.

Antama is launching gold with motif of Land Dog Shio, edition of lunar year 2569 each weighing 88 grams.

With the lucky figure of 88 and the certificate of London Bullion Market Association (LBMA), this gold product of Antam is more attractive with exclusive design and high artistic value.

"In line with its philosophy , hopefully buyers of gold with the motif of Land Dog Shio will have greater success," Arie said.

Source: ANTARA News

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