Antam's Strategy to Strengthen Contribution and Boost Performance

Jakarta, CNBC Indonesia - State-owned enterprise PT ANTAM (Persero) Tbk (ANTM) plays a tangible role in driving the national economy, recording an increased contribution to the state throughout 2024. The company’s Non-Tax State Revenue (PNBP), taxes, and royalties reached Rp 4.8 trillion, a 43% increase compared to the 2023 realisation of Rp 3.36 trillion. This result is inseparable from ANTM’s sustainable growth, fuelled by its revenue engines in gold and nickel. Regarding gold, ANTM has expanded its precious metals trading network through collaborations and by strengthening the national gold ecosystem. The company currently offers physical gold and digital physical gold products for public investment. The digital physical gold provides convenience as ownership and transactions can be accessed via mobile phones. For investors who prefer not to store physical gold, ANTM also provides the BRANKAS (Berencana Aman Kelola Emas) service. The high interest in gold is reflected in ANTM’s stellar performance, which recorded its best results in history for 2025. The company posted revenue of Rp 84.64 trillion, a 22% increase from the previous year, and a net profit of Rp 7.92 trillion, a significant 106% jump compared to 2024. This performance was supported by gold sales which reached Rp 66.47 trillion, up 15% from Rp 57.56 trillion, underpinned by strong demand. ANTM President Director Untung Budiharto stated that 2025 marks an important milestone for the company. He noted that amidst global market dynamics and industry challenges, ANTM achieved its best operational and financial performance in history. He emphasised that this achievement reflects strong business fundamentals, effective disciplined strategy execution, and the commitment of all ANTM personnel to optimise national mineral resources to create sustainable added value for all stakeholders. ANTM runs an integrated gold business from upstream to downstream (mine to market) and synergises with various parties to provide ease, comfort, and security for the public in owning ANTM gold as a safe and trusted investment instrument. Furthermore, ANTM continues to support the strengthening of nickel downstreaming as a key foundation for the national electric vehicle battery ecosystem. The company is committed to accepting special assignments from the government to accelerate the nickel downstreaming programme and the development of the electric vehicle battery ecosystem. In the long term, the growth of the electric vehicle battery industry is expected to increase the added value of the company’s nickel business. Through various integrated strategic projects, ANTM not only increases added value but also supports the strengthening of national industrial independence and Indonesia’s position in the global industrial supply chain. The assignment includes the development of an integrated nickel-based battery ecosystem from upstream to downstream, covering mining activities, construction of RKEF/RKSBF plants, HPAL facilities, refineries, precursor, cathode, battery cell, and battery recycling facilities. This assignment will be carried out through cooperation between ANTM and PT Industri Baterai Indonesia (IBI) 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. This ecosystem development is expected to increase the added value of national mineral resources, expand the company’s revenue sources, strengthen long-term business resilience, and support sustainable growth for all stakeholders. Throughout 2025, ANTM’s nickel ore production reached 16.11 million wet metric tons (wmt), a 62% increase compared to the 9.94 million wmt produced in FY24. On the marketing side, nickel ore sales were recorded at 14.58 million wmt, growing 75% compared to 8.35 million wmt in 2024. Driven by increasing domestic demand, 2025 marked ANTM’s highest nickel ore production and sales performance in more than a decade since the imposition of the mineral export ban. Meanwhile, for ferronickel products, amidst domestic regulatory dynamics throughout 2025, ANTM maintained operational stability by recording production of 16,064 tonnes of nickel in ferronickel (TNi), with a sales volume of 10,528 TNi.