[Ferro-Alloys.com] 

Antam allocates US$723 million for mining exploration

State-ownwed diversified miner PT Aneka Tambang (Antam) has allocated US$723 million (Rp11.46 trillion) in Capital Expenditure (Capex) that will be used for gold, bauxite, and nickel exploration over the next five years.

Abdul Bari, General Manager of Antam, cited that for gold resources, Antam is targeting an increase of up to 15 percent in five years. Meanwhile, its reserves are still around 10 percent behind the projection.

As for nickel, it is targeted to reach 15 percent of the estimate with reserves of up to 26 percent of the National Reserve Ownership.

Meanwhile, for bauxite, both resources and reserves are targeted to increase by 15 percent in the next five years.

• [Editor:邢亚敏]