Antam Optimizes Pongkor Gold Mine While Exploring New Opportunities

Business Continuity Strategy

PT Aneka Tambang Tbk (ANTM), Indonesia's state-owned mining company, is implementing a dual strategy to ensure the continuity of its gold business. The company is focusing on optimizing its existing Pongkor Gold Mine in Bogor, West Java, while simultaneously exploring new gold mine acquisitions ¹

Pongkor Gold Mine Optimization

The Pongkor Gold Mine, one of Antam's key assets, is nearing the end of its operational life. To address this, Antam's management, led by Director of Business Development I Dewa Wirantaya, has emphasized the importance of aggressive exploration activities to convert resources into reserves and extend the mine's life beyond 2030 ¹

Growth Strategies

Antam is pursuing a comprehensive growth strategy through both organic and inorganic means. For organic growth, the company is intensifying exploration activities at Pongkor to maximize resource utilization. In terms of inorganic growth, Antam is exploring potential acquisitions, particularly in the Middle East region, to enhance its gold production capacity ²

Exploration and Acquisition Plans

The company's exploration efforts at Pongkor are focused on identifying additional resources that can be developed to sustain operations post-2030. For potential acquisitions, Antam is evaluating various opportunities that align with its business objectives and growth targets.