Indonesia's Antam Logs 182% Surge in Gold Sales, Reaching 13.7 Tons in Q1 2025

TEMPO.CO, Jakarta - State-owned mining giant PT Aneka Tambang, or Antam, has reported an 182 percent year-on-year increase in gold sales for the first quarter of 2025. The company sold 13,739 kilograms, equivalent to approximately 13.7 tons of gold, valued at Rp21.61 trillion.

Gold products were the primary contributor to the company's revenue during this period, accounting for 83 percent of total sales. This occurred amidst a public trend of accumulating gold, often referred to as the Fear of Missing Out (FOMO).

"[This growth was] driven by the launch of the Antam Logam Mulia application, which simplifies digital transactions for physical gold," stated Antam's President Director, Nico Kanter, in an official press release on Friday, May 9, 2025.

Antam's total net sales for the first quarter of 2025 reached Rp26.15 trillion, marking a 203 percent increase compared to the Rp8.62 trillion recorded in the same period last year. Notably, domestic sales constituted 95 percent of the total revenue, amounting to Rp24.83 trillion. "This reflects Antam's success in strengthening its domestic customer base," commented Nico.

The publicly listed company, trading under the stock code ANTM, also reported a more than tenfold increase in its net profit for the first quarter of 2025. The company's profit soared to Rp2.32 trillion, a significant jump from the Rp210.59 billion recorded in the corresponding period of the previous year.

Nico attributed this success to innovative marketing strategies and rigorous cost management. He emphasized that Antam is committed to continuously developing marketing approaches that are both innovative and competitive. "We continue to prioritize operational excellence and the implementation of sound mining practices to optimize the company's performance," Nico affirmed.

In addition to net profit, Antam also reported a more than thirteenfold increase in gross profit, reaching Rp3.64 trillion. Furthermore, the company's operating profit turned positive to Rp2.69 trillion, a significant turnaround from the operating loss of Rp491.19 billion recorded in the first quarter of 2024.

Meanwhile, the basic earnings per share (EPS) also surged by 794 percent to Rp88.69. This positive performance was accompanied by a 17 percent increase in total assets, reaching Rp48.30 trillion, and a 10 percent increase in equity, amounting to Rp34.62 trillion.

In the nickel and bauxite sectors, Antam experienced a substantial 581 percent increase in total nickel sales (including ferronickel and nickel ore), amounting to Rp3.77 trillion. The company's ferronickel production reached 4,498 tons of nickel (TNi), with a sales volume of 4,839 TNi.

Nickel ore production also saw a dramatic increase of 221 percent, reaching 4.63 million wet metric tons (wmt), aligning with a 281 percent growth in nickel ore sales to 3.83 million wmt.

Regarding bauxite and alumina commodities, the company reported sales of Rp708.75 billion, a 102 percent increase compared to the first quarter of the previous year. Bauxite ore production grew by 328 percent to 653,781 wmt, and alumina sales reached 44,048 tons, representing a 4 percent year-on-year increase.

The President Director of MIND ID, the holding company for state-owned mining enterprises, Maroef Sjamsoeddin, commented that Antam's performance in the first quarter demonstrated truly significant results. He expressed optimism that if this level of achievement can be sustained, further positive outcomes will follow.

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