Gold Business (ANTM) Remains Thriving

PT Antam Tbk (ANTM) is increasingly relying on its gold business as the company’s primary growth engine. After recording gold sales of Rp 50.1 trillion, or approximately 80% of total revenue in the first half of 2026, Antam is now preparing to add precious metals manufacturing capacity of up to 30–40 tonnes per year to capture the growth in domestic gold demand.

Antam’s Finance and Risk Management Director, Arini Kasmira, stated that the gold business remains one of the main pillars of the company’s performance and will continue to be strengthened through an integrated approach, ranging from raw material supply and manufacturing capacity to product availability and market access expansion.

“In this first semester, gold volume was approximately 18.1 tonnes, contributing revenue of Rp 50.39 trillion, or about 80% of our revenue,” Arini said during the 2026 Public Expose Live on Thursday (10/09/2026).

According to her, Antam’s precious metals position remains very strong in the domestic market, with a market share of over 60%. This brand strength is supported by consumer trust in the quality and purity of the products, as well as the credibility of Antam’s gold refining facilities.

Arini believes this position provides significant room for growth for the company, especially as gold is increasingly viewed by the public as an investment instrument.

Consequently, Antam is preparing a precious metals manufacturing facility in Gresik, East Java. The facility is projected to have a capacity of approximately 30–40 tonnes per year.

“We hope this capacity increase will enable us to capture the current significant trend in domestic gold demand,” said Arini.

This development is part of Antam’s gold downstreaming strategy. The manufacturing facility in Gresik will also strengthen the company’s gold business chain, from raw materials to final products such as gold bars and other precious metal products.

Previously, Antam had prepared for the construction of a precious metals manufacturing facility in the JIIPE Gresik area. The project is part of an effort to increase the production capacity of gold products and utilise gold supplies from the Freeport Indonesia refining facility in Gresik.