Agencies
\nJakarta<\/p>\n
Publicly-listed state mining company PT Aneka Tambang predicts
\nits revenue will be flat this year because the rupiah's
\nappreciation will offset the results of a slight increase in
\nproduction expected this year.<\/p>\n
Aneka Tambang's president director Dedi Aditya Sumanegara said
\nThursday that this year's revenue will be around last year's
\nvalue of Rp 1.7 trillion (US$206 million).<\/p>\n
Dedi didn't give a forecast for the company's net profit this
\nyear. Last year, its profit reached Rp 202 billion, against a Rp
\n358.2 billion profit the previous year.<\/p>\n
The company exports most of its products, mainly nickel and
\ngold.<\/p>\n
The rupiah has gained around 8 percent against the dollar so
\nfar this year, which will hurt Aneka Tambang's revenue in terms
\nof the rupiah.<\/p>\n
The rupiah's rise will neutralize the impact of between a 5
\npercent and 10 percent increase in Aneka Tambang's total output
\nthis year.<\/p>\n
Dedi said the company will produce 100,000 tons of nickel, one
\nmillion tons of bauxite and 4.2 tons of gold this year.<\/p>\n
He added the company will also manage to prevent its revenue
\nfrom falling if nickel prices don't fall below $3.4 and $3.5 per
\npound.<\/p>\n
Meanwhile, the company's shareholders agreed on Thursday to
\ndistribute 33 percent of its 2002 profit in dividends.<\/p>\n
The firm will pay a dividend of Rp 65.6 billion, or Rp 34.42 a
\nshare, compared to a Rp 46.77 per share dividend in 2001.<\/p>\n
The company will use part of the remaining two-thirds of the
\nprofit to fund the expansion of its ferronickel plant in Pomalaa,
\nSoutheast Sulawesi, according to the statement distributed after
\nthe shareholders meeting.<\/p>\n
The expansion plan will double its output to 26,000 tons per
\nyear.<\/p>\n
The shareholders also approved the appointment of Kurniadi as
\nfinance director, replacing Ki Agus Umar Tochfa. Arwinsyah Lubis
\nwas appointed as director of operations, Syahrir Ika becomes
\ndirector of general affairs and Darma Amya was appointed director
\nof development.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/agencies-1447899208",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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