ANTAM Poised to Become Major Player in Indonesia's Nickel Downstreaming
Indonesia’s downstreaming or industrialisation policy for mineral and coal commodities is progressing, as reflected by the growing contribution of the processing industry compared to the mining sector itself. The Directorate General of Mineral and Coal at the Ministry of Energy and Mineral Resources recorded non-tax state revenue from the mineral and coal sector for the January-April 2026 period at IDR 48.95 trillion. This data indicates that the mineral downstreaming programme is impacting state revenues. By 15 May 2026, that figure had risen to approximately IDR 56 trillion, marking an annual growth of 6.21%. Underpinning this achievement, a number of smelters within the MIND ID ecosystem have become the main pillars strengthening the national mineral processing industry, one of which is PT Aneka Tambang Tbk (ANTM).
ANTAM President Director Untung Budiharto explained that ANTAM is committed to accepting special assignments from the government in order to accelerate the nickel downstreaming programme and the development of a national electric vehicle battery ecosystem. Through various integrated strategic projects, ANTAM is not only increasing added value but also supporting the strengthening of national industrial independence and Indonesia’s position in the global industrial supply chain. The assignment encompasses the development of an integrated nickel-based battery ecosystem from upstream to downstream, including mining activities, the construction of RKEF/RKSBF plants, HPAL facilities, a refinery, precursors, cathodes, battery cells, and battery recycling facilities.
The assignment will be carried out through cooperation between ANTAM and PT Industri Baterai Indonesia (IBI) together with HYD Investment Limited, a consortium consisting of Zhejiang Huayou Cobalt Co., Ltd., EVE Energy Co., Ltd., and PT Daaz Bara Lestari Tbk., as strategic partners in developing an integrated electric vehicle battery ecosystem in Indonesia. The development of this ecosystem is expected to increase the added value of national mineral resources, broaden the company’s revenue sources, strengthen long-term business resilience, and support sustainable growth for all stakeholders.
Throughout 2025, ANTAM’s nickel ore production reached 16.11 million wet metric tons, an increase of 62% compared to the FY24 achievement of 9.94 million wmt. From a marketing perspective, nickel ore sales were recorded at 14.58 million wmt, growing 75% compared to 8.35 million wmt in 2024. Driven by rising domestic demand, 2025 marked ANTAM’s highest nickel ore production and sales performance in over a decade since the imposition of the mineral export ban. Meanwhile, for ferronickel products, amidst domestic regulatory dynamics throughout 2025, ANTAM maintained operational stability by recording production of 16,064 tonnes of nickel in ferronickel, with a sales volume of 10,528 TNi.