Antam Reveals Pongkor Gold Reserves, This is Its Production Level

Jakarta, CNBC Indonesia - PT Aneka Tambang Tbk (Antam) has revealed that gold reserves at the Gold Mining Business Unit (UBPE) Pongkor are increasingly depleting. This situation is prompting the company to seek new reserve sources.

Antam’s President Director, Untung Budiharto, stated that gold production from UBPE Pongkor is currently below one tonne per year, even just around 450 kilograms per year.

“We are currently only able to produce below one tonne, sir, actually 450 kg per year, sir, so this is very minimal and Pongkor is the only gold mine owned by Antam,” said Untung during an RDP with Commission VI of the House of Representatives (DPR RI), quoted on Thursday (2/4/2026).

Therefore, to meet production needs, Antam has so far relied on various sources. From buyback programmes, purchases from domestic refineries, to imports from abroad if there is a supply shortage.

On the other hand, Antam has also been assigned to conduct exploration for new domestic reserve sources. This activity will begin with social studies in several regions, including East Java.

“However, the time cannot be quick, sir. If I ask, it will take 5 years before it can be mined, sir, to obtain the reserves and resources available there,” he said.

In addition to domestic exploration activities, Antam is also preparing several other strategies to strengthen gold reserves. One of them is exploring expansion in foreign countries, including Saudi Arabia.

“This strategy is designed to balance the optimisation of existing assets with opening new growth opportunities,” said Untung.