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PT Aneka Tambang TBK (PT Antam TBK.).

Backgrounds

PT Antam Tbk TBK - Tool Builder Kit . Was established in Jakarta Jakarta or Djakarta (both: jəkär`tə, jäkär`tä), city and special district (1990 pop. 8,227,746), capital and largest city of Indonesia, NW Java, at the mouth of the canalized Ciliwung River, on Jakarta  through a merger of a number of mining companies in 1968 with an authorized capital of Rp 3,800 billion including issued capital of Rp 953.8 billion fully paid. Antam is 65% owned by the state and 35% by the public.

PT. Antam operates integrated mining industry as a miner and as producer of processed minerals. The company, which is based in Jakarta, operates various mines including gold, nickel nickel, metallic chemical element; symbol Ni; at. no. 28; at. wt. 58.69; m.p. about 1,453°C;; b.p. about 2,732°C;; sp. gr. 8.902 at 25°C;; valence 0, +1, +2, +3, or +4. , bauxite bauxite (bôk`sīt, bŏk`–), mixture of hydrated aluminum oxides usually containing oxides of iron and silicon in varying quantities. , silver and iron sand mines. It also has processing factories like ferronickel plants in Sulawesi Sulawesi (s'läwā`sē), formerly Celebes (sĕl`əbēz), island (1990 pop. 12,511,163), c. .

The company has succeeded in establishing strong market footholds in Europe, Australia and Asia. It has joint venture business with foreign partners in the country.

PT Antam is public company listed on the Jakarta Stock Exchange Jakarta Stock Exchange

Established in 1977, the largest securities exchange in Indonesia.
 and Surabaya Stock Exchange selling 35% of its shares to the public in 1997. In 1999, PT Antam was listed on the Australian Stock Exchange. In 2003, PT Antam issued its first dollar bond through its subsidiary in Mauritania Antam Finance Ltd. The bond was listed on the Singapore Stock Exchange.

In 2010, PT Antam Tbk set aside IS$ 280 million for capital expenditure, including US$ 30 million for the acquisition of gold or coal mine, US$ 70 million for routine expenditure and US$ 40 million for the development of the Cibaliung gold mine in Banten.

Currently PT Antam has joint venture companies operating in nickel, gold, bauxite, coal mining, etc. Among its subsidiaries is PT Weda Bay Nickel, PT Cibaliung Source Daya, PT Indonesia Coal Resources, PT Nusa Halmahera Minerals, PT Borneo Edo International, etc.

Reserves declining

The exploration division of PT Antam focuses more on efforts to find new nickel, gold and bauxite reserves in Indonesia to offset a decline in its reserves. Its mineral reserves have been on the decline since 2009 after years of intensive exploitations.

The total reserves and mineral resources owned by PT. Antam Tbk are as follows:

Nickel

Antam has three ferronickel factories--FeNi I, FeNi II and FeNi III--in Pomalaa, Southeast Sulawesi with a total installed capacity of 26,000 tons of ferronickel a year. Antam operates diesel power generating plants (PLTD) with a capacity of 102 MW to supply its facilities with electricity. The power plant was built and operated by Wartsila Finlandia.

In mid 2010, PT Antam started the operation of a new nickel mine in the area of Tapunopaka, Southeast Sulawesi, marked with the first export of 50,000 wmt of nickel ores. Antam already has nickel mines in operation in Pomalaa, Gee and Buli and the three ferronickel plants in Pomalaa, Southeast Sulawesi.

The Tapunopaka mining concession totals 6,213 hectares producing 7.1 million wmt of nickel ores with a high grade of 2.3% and 43.7 million wmt of nickel ores with low grade of 1.6%. Part of the production is exported and the rest is fed to Pomalaa ferronickel plants. The Tapunopaka mine will guarantee supply of nickel ores for the ferronickel plants with the Pomalaa reserves are shrinking almost to depletion depletion n. when a natural resource (particularly oil) is being used up. The annual amount of depletion may, ironically, provide a tax deduction for the company exploiting the resource because if the resource they are exploiting runs out, they will no longer be able .

Antam and PLN PLN

In currencies, this is the abbreviation for the Polish Zloty.

Notes:
The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion.
 will build a new power plant with a capacity of 260 megawatts needed by the ferronickel plants under a 30 year cooperation agreement.

With additional capacity of 27,000 tons a year, Antam's production of ferronickel will double by 2014. Currently, the production of nickel in Pomalaa, Southeast Sulawesi, averaged 26,000 tons per year.

The construction of a ferronickel plant in Halmahera could improve the operational efficiency of Antam as the nickel ores produced in that island could be processed in that area without having to send them to Pomalaa.

PT Weda Bay Nickel (PT WBN) is a joint venture company between PT Antam (20%) and France's Eramet SA (56.6%) and Mitsubishi (33.4%). PT WBN will operate a nickel mine with a production capacity of 65,000 tons per year. The nickel reserves of the company are estimated to reach 600 million tons. Development of the nickel mine is estimated to cost US$ 2.5 billion.

PT. Antam plans to build a ferronickel factory with a capacity of 27,000 tons of ferronickel per year in Buli, Halmahera Timur, and North Maluku North Maluku (Indonesian: Maluku Utara) is a province of Indonesia. It covers the northern part of the Maluku Islands, which are split between it and the province of Maluku. Maluku province used to cover the entire group. . The project is estimated to cost US$1.65 billion and it is to be operational in 2014.

PT. Antam also plans to build a Nickel Pig Iron pig iron: see iron.
pig iron

Crude iron obtained directly from the blast furnace and cast in molds (see cast iron). The crude ingots, called pigs, are then remelted along with scrap and alloying elements and recast into molds to produce
 (NPI NPI National Provider Identifier, see there ) plant with an initial capacity of 120,000 tons of nickel per year. The factory is to be built in Mandiodo, Konawe Utara, and Southeast Sulawesi with an investment of US$ 140 million. The facility is to be operational in 2014.

Gold

PT. Antam has two gold mining concessions--in Pongkor, West Java and Cibaliung, Pandeglang, Banten. Currently the Pongkor mine has a reserve of 1,170,000 troy ounce Noun 1. troy ounce - a unit of apothecary weight equal to 480 grains or one twelfth of a pound
apothecaries' ounce, ounce

troy unit - any of the unit of the troy system of weights
 of gold. The reserve is expected to be depleted de·plete  
tr.v. de·plet·ed, de·plet·ing, de·pletes
To decrease the fullness of; use up or empty out.



[Latin d
 in 2015 with the new reserves found in Cibaliung; PT. Antam now has a total gold reserve of 2,111,500 troy ounces.

In 2010, Antam's annual gold production reached only 2.8-2.9 tons including 2.58 tons from Pongkor and 0.5 ton from Cibaliung. The production fell short of the target of 3 tons as the Cibaliung mine started commercial operation only in May that year.

Based on the latest process of explorations, the Cibaliung mine had an economic life of 6 years. It is estimated to have total reserves of 1.5 million tons of gold ores. The reserves are found in the Cikoneng field with a reserve of 678,000 tons and Cibitung 839,000 tons.

The Cibaliung mine is operated by PT Cibaliung Source Daya (PT. CSD CSD Commission on Sustainable Development
CSD Serbian Dinar (ISO currency code)
CSD Christopher Street Day
CSD Circuit Switched Data (Sprint)
CSD Computer Science Department
CSD Community School District
). It is wholly owned by PT Antam after acquiring a 95% stake of Australia's ARC Exploration Ltd.

PT CSD is expected to start full operation in 2011 with production capacity of 63,300 tons or 2 tons of gold per year until 2016. The Cibaliung gold mine is a deep under ground mine operated with cut and fill system.

Bauxite

PT Antam closed its old bauxite mine in Kijang, Tanjung Pinang Tanjung Pinang or Tanjungpinang is the capital and largest town of the Indonesian province of Riau Islands. The city with 150,000 residents ) and is a trading port between islands in the Riau archipelago. , Bintan, in the last quarter of 2010 as the reserve had been depleted after exploitation since 1950. Normally the mine produced 1.1 million tons of bauxite per year, but in the past several years, the production began to decline. In the first half of 2009, the bauxite production of the Kijang mine totaled only 300,000 tons of bauxite.

Antam now has moved its bauxite mining operation to West Kalimantan West Kalimantan (Indonesian: Kalimantan Barat often abbreviated to Kalbar) is a province of Indonesia. It is one of four Indonesian provinces in Kalimantan, the Indonesian part of the island of Borneo. Its capital city Pontianak is located right on the Equator line. . In 2011, PT Antam develops two new bauxite mines. The bauxite mine in West Kalimantan has a reserve of around 100 million tons and in 2011, the mine is expected to start operation with production of 300,000 to 400,000 tons.

PT Antam Tbk and Hangzhou Jinjiang Group of China cooperate to build factory to process bauxite ores to turn out smelter grade alumina alumina (əl`mĭnə) or aluminum oxide, Al2O3, chemical compound with m.p. about 2,000°C; and sp. gr. about 4.0.  (SGA SGA
abbr.
small for gestational age


Small-for-gestational-age (SGA)
A term used to describe newborns who are below the 10th percentile in height or weight for their estimated gestational age.
) in Mempawah, West Kalimantan. The factory is to have an annual production capacity of 1,000,000 tons SGA. Construction of the factory is estimated to cost US$ 900 million currently, around 50% of alumina basic material for the aluminum factory in Mempawah will be supplied from other regions.

PT Indonesia Chemical Alumina (PT ICA Ica (ē`kä), city (1993 pop. 108,724), capital of Ica dept., SW Peru, on the Pan-American Highway. It is a commercial center for the cotton, wool, and wine produced in the region. There are several summer resorts nearby. ), which is a joint venture 80% owned by Antam and 20% by Showa Denko K.K of Japan, plans to build a chemical grade alumina (CGA) plant. Construction is handled by a consortium of PT Wijaya Karya (Persero) Tbk, Tsukishima Kikai Co Ltd and PT Nusantara Energi Abadi (Nusea). The CGA factory, locate din DIN - Deutsche Institut fuer Normung. The German standardisation body, a member of ISO.  Tayan, West Kalimantan, will have a production capacity of 300,000 tons of CGA per year. The factory is being built over an area of 15,000 hectare hectare (hĕk`târ, –tär), abbr. ha, unit of area in the metric system, equal to 10,000 sq m, or about 2.47 acres.  with an investment of around US$ 450 million. The project is expected to be operational in 2014.

Two power generating plants respectively in Mempawah with a capacity of 57 MW and 56 MW in Tayan with a capacity of 56 Mw to be integrated with the alumina plant.

By December 2010, the bauxite reserves owned by PT. Antam in West Kalimantan rose by 104.5 million WMT (Wet Metric Tons) or 47% from 100 million WMT in September 2009.

In 2010, PT Antam also built a coal-fired power plant with a capacity of 150MW in Pomalas, Southeast Sulawesi. With a cost of US$ 300 million, including US$ 75 million in loan from Japan Exim Bank Exim bank

See: Export-Import Bank
.

Coal

PT Antam through its subsidiary PT Indonesia Coal Resources (PT ICR (Intelligent Character Recognition or Image Character Recognition) The machine recognition of hand-printed characters as well as machine printing that is difficult to recognize. ) has started to expand business in coal mining by acquiring a coal mine in Sarolangun, Jamb at a price of Rp 92.5 billion. The mine, which has a reserve of around 8.25 million tons of coal, has an annual production capacity of around 200,000 tons.

In 2011, PT ICR will increase the production capacity of its Sarolangun mine to 500,000 tons. The mine has coal with a calorific value calorific value
n.
The calories or thermal units contained in one unit of a substance and released when the substance is burned.
 of 5,300-5.500 kcal/kg.

The Sarolangun coal mine started operation in June 2010. Its coal production is partly exported to India and the rest to domestic consumers. The coal mine is also intended to guarantee coal supply to its power plants such as the power plant that generate electricity for Antam's ferronickel factories.

Meanwhile, PT. ICR is conducting explorations for coal in its mining concessions in Bangko of Jambi and Sorong of Papua. The coal expected to be produced from the concessions will be used to feed power plants (PLTU PLTU Pct Line and Trunk Unit ) in Pomalaa. The power plant needs around two million tons of coal with a calorific value of 5,000 kcal per year.

Financial performance

In 2010, PT Antam had assets valued at Rp 12.31 trillion One thousand times one billion, which is 1, followed by 12 zeros, or 10 to the 12th power. See space/time.

(mathematics) trillion - In Britain, France, and Germany, 10^18 or a million cubed.

In the USA and Canada, 10^12.
 up from Rp9.93 trillion in 2009.

Its income totaled Rp8.74 trillion, up 0.37% from Rp 8.71 trillion in 2009. The increase was attributable to increase in its sales of ferronickel and nickel ores rose and the commodity price hikes.

In the same year, the company reported net profit at Rp 1.6 trillion or an increase of 178.6% from Rp604 billion in 2009. The increase in net profit was attributable mainly to increase in sales of ferronickel and the commodity price hike.

Meanwhile, its cost of goods sold Cost of goods sold

The total cost of buying raw materials, and paying for all the factors that go into producing finished goods.


cost of goods sold 
 dropped with the decline in the sales of precious metals which give lower margin. Since early 2010, the company stops trading of precious metals amid price fluctuations.

In 2010, Antam's operations on nickel and gold mining grew. Gold mining grew with the operation of a new mine in Cibaliung. In 2011, PT Antam plans to give priority of operation in the downstream From the provider to the customer. Downloading files and Web pages from the Internet is the downstream side. The upstream is from the customer to the provider (requesting a Web page, sending e-mail, etc.).  sector such as the development of Chemical Grade Alumina project in Tayan.

Altogether, nickel business contributes 69% to the total sales of PT. Antam in 2010. Business in other sectors such as gold, bauxite and ferronickel accounted for 31% of its sales in value.

A 49% increase in the price of ferronickel to US$ 10.12 per pound in 2010, resulted in a 71% surge in income from ferronickel business to Rp 3.679 trillion that year from Rp 2.150 trillion in 2009.

Meanwhile, sales of nickel ores also surged 20% in volume to 5,863,840 wet (wmt) in 2010 and at the same time the selling price rose resulting in 39% increase in the earning to Rp 2.364 trillion.

Sales of gold, however, fell 9.5% to Rp 1.91 trillion in 2010.

With the FeNi I, FeNi II and FeNi III factories are fully operational, PT Antam's production of ferronickel shot up 49% in 2010 to 18,688 tons compared with the previous year and its sales of that commodity rose 29% to 18,254 tons.

In 2010, its sales of gold totaled 2.78 tons including 2.485 tons from Pongkor and 295 kg from Cibaliung. In 2011, its gold production is projected to reach 3.804 tons. The production targets from Pongkor are set at 2.007 tons and from Cibaliung 1.797 tons.

Its sales of gold in 2011 are forecast to reach 7.304 tons up from 6.561 tons in 2010. In 2010, its sales of gold were valued at Rp 2.35 trillion with prices averaging US$ 1,227.52 per troy ounces.

Growing demand also pushed up sales of high grade nickel ores by 22% to 1,032,478 wmt in the last quarter of 2010 compared with in the last quarter of 2009. Sales of low grade nickel ores rose 199% to 770,549 wmt in the last quarter of 2010 compared with in the last quarter of 2009.

Production of ferronickel totaled 4,643 tons or an increase of 20% from 2009. Growing demand also pushed up its production of high grade nickel ores by 39% to 1,106,530 wmt in the last quarter of 2010 compared with the same period in 2009 its production of low grade nickel ores shot up 74% to 875,520 wmt in the last quarter of 2010 compared with the same period in 2009.

In the last quarter of 2010, PT Antam produced no bauxite ores with the closure of the Kijang bauxite mine, which had been completely depleted. Antam is now developing new bauxite mine in Tayan, West Kalimantan. The bauxite ores from Tayan will be processed into alumina.

Marketing

Most customers of PT Antam are big companies in Asia, Australia and Europe under long term contracts of one to three years. PT Antam also has long term off take agreements for up to 10 years for 15,000 tons of ferronickel per year with TKN TKN Total Kjeldahl Nitrogen
TKN Takanini (suburb of Auckland, New Zealand) 
 from Germany and Posco of South Korea. Nickel ores are exported to ferronickel producers and all of its production of ferronickel is exported to the producers of stainless steel stainless steel: see steel.
stainless steel

Any of a family of alloy steels usually containing 10–30% chromium. The presence of chromium, together with low carbon content, gives remarkable resistance to corrosion and heat.
.

Most of its gold and silver production is sold to jewelry jewelry, personal adornments worn for ornament or utility, to show rank or wealth, or to follow superstitious custom or fashion.

The most universal forms of jewelry are the necklace, bracelet, ring, pin, and earring.
 producers in the country and abroad and all of its bauxite production is exported to China and Japan and iron sand is sold to local cement cement, binding material used in construction and engineering, often called hydraulic cement, typically made by heating a mixture of limestone and clay until it almost fuses and then grinding it to a fine powder.  producers.

Among new customers of PT Antam in East Europe include FeniMak from Macedonia (for IMR/Alferon) and Pobuzky in Ukraine. In 2004, Antam started exporting nickel ores to Razno.

Currently PT. Antam export bauxite only to China, which agrees to buy bauxite with high grade of silica silica or silicon dioxide, chemical compound, SiO2. It is insoluble in water, slightly soluble in alkalies, and soluble in dilute hydrofluoric acid. Pure silica is colorless to white. .

Joint ventures

Currently PT. Antam has a mining concession of 923,000 hectares. It has 20 joint ventures operating in multifarious mining business.
Table--1
Proven and inferred reserve ('000 wmt) **

    Minerals               Ores         Change (%)

                     2008      2009

Nickel Saprolite    56,400    50,350          -11)
Nickel Limonite         --        --            --
Gold                 4,450     4,058            -9
Bauxite             70,900   104,500            47

Source: PT. Antam Tbk

Note:

** The total reserves include in the reserves and mineral resources
tables as well as estimate of reserves of PT Cibaliung Sumber Daya

Table--2
Reserves and Mineral Resources ('000 wmt) * 2010

Minerals                    Ores          Change (%)

                      2008       2009

Nickel Saprolite    362,700    447,700            23
Nickel Limonite     372,500    498,850            34
Gold                  5,337      8,304            56
Bauxite             201,200    347,200            73

Source: PT. Antam Tbk

Note:

Based on the report of Competent Person. Data on 31 December
2009, the estimate include estimate of nickel resources of PT Gag
Nickel, estimate of bauxite resources of PT Borneo Edo International
and PT Mega Citra Utama, estimate of gold reserves and resources
of PT Cibaliung Sumber Daya and estimate of detected gold
resources.

Table--3
Summary of financial report of PT Antam and subsidiaries
December 2009 and 2010

(Rp billion)

Description                      2010      2009

Assets
Current assets                   7,593    5,313
Non current assets               1,764    1,735
Fixed assets                     2,953    2,891
Other assets                        --       --
Total assets                    12,310    9,939
Liabilities and equity
Current liabilities              1,989      748
Non current liabilities            721    1,000
Other liabilities                   --       --
Total liabilities                2,710    1,748
Equity                           9,580    8,149
Minority interest                   20       42
Total liabilities and equity    12,310    9,939

Profit/loss:
Income                           8,744    8,711
Net profit/loss                  1,683      604

Source: PT Antam Tbk

Table--4
Sales value recorded by PT Antam, 2009 - 2010

Commodities         2009            2010        Growth
                (Rp billion)    (Rp billion)      (%)

Ferronickel            2,147           3,679        71
Nickel ores            1,696           2,364        39
Gold                   2,120           1,918      -9.5
Silver                   127             187      47.2
Bauxite                   78              34     -56.4
Coal                       2              24     1,100
Other metals               5               9        80

Source: Annual report of PT Antam Tbk

Table--5
Antam's sales in last quarters of 2009 and 2010

        Commodities            Sales volume    Sales volume    Growth
                                Q4 of 2010      Q4 of 2009       (%)

High grade nickel ore (wmt)       1,032,478         846,200        22
Low grade nickel ore (wmt)          770,549         387,211       199
Ferronickel (FNi)                    18,254          14,150        29
Gold (kg)                             6,561           9,776       -49
Bauxite(wmt)                        191,615         298,919       -56

Source: Annual report of PT Antam

Table--6
Customers of PT Antam

   Products                 Names of customers               Origin

Nickel Ore        Pacific Metal Co. Ltd (PAMCO)               Japan
                  Sumitomo Metal Mining Co. Ltd (SUMICO)      Japan
                  Nippon Yakin Kogyo Co Ltd                   Japan
                  Raznoimport Nickel (UK) Ltd                Europe
                  Avarus AG                                  Europe
                  Minsources International                   Europe
Ferronickel       Pohang Iron & Steel Co. (Posco)--        South Korea
                  Thyssen Krupp Nirosta, GmbH                Europe
                  Arcellor Mittal                            Europe
                  Autolompu Stainless                        Europe
Gold and Silver   Standard Bank Plc                         Singapore
                  Producers of gold jewelry                 Indonesia
Bauxite           Showa Denko KK                              Japan
                  Zhong Nan Group Industry Co. Ltd            China

Source: PT Antam

Table--7
Subsidiaries of PT Antam, 2010

Joint ventures        Locations       Products     Areas (Ha)

PT Gag Nickel         Gag Island,     Nickel          13,136
                      Papua

Asia Pacific Nickel   Australia       Nickel              --
Pty Ltd

PT. Antam             Jakarta         Investment          --
Resourcindo

PT. Indonesia Coal    Jambi           Coal            23,240
Resources

PT. Cibaliung         Banten          Gold             7,828
Sumberdaya

PT. Mega Citra        West            Bauxite            N.a
Utama                 Kalimantan

PT. Indonesia         Tayan, West     Bauxite         36,410
Chemical Alumina      Kalimantan

PT. Borneo Edo        West            Palm Oil           N.a
International         Kalimantan      Plantation

PT. Abuki Jaya                        Stainless          N.a
Stainless Indonesia                   steel

PT. Meratus Jaya      Kalimantan      Stainless           --
Iron & Steel                          steel

PT. Dwimitra          Kalimantan      Bauxite            N.a
Enggang               Barat
Khatulistiwa

PT Nusa               Gosowong,       Gold            29,620
Halmahera             Halmahera
Minerals              Island,
                      Maluku

PT Sorikmas           Kotanopan       Gold            66,200
Mining                and Pagar
                      Gunung,
                      Sumatra

PT Weda Bay           Weda Bay,       Nickel          76,280
Nickel                Halmahera,
                      Maluku

PT Dairi Prima        Dairi-Karo,     Lead/Zinc       27,420
Minerals              North Sumatra

PT Galuh Cempaka      Martapura,      Diamond          3,920
                      Cempaka,
                      Danau Seran,
                      Kalimantan

PT. Sumbawa           Sumbawa,        Gold            19,238
Timur Mining          West Nusa
                      Tengara

PT Pelsart            Gendang         Gold           201,000
Tambang Kencana       Timburu,
                      South
                      Kalimantan

PT. Gorontalo         Gorontalo       Gold            36,070
Minerals

                              Share (%)

Joint ventures        PT. Antam      Partner          Status

PT Gag Nickel               20    BHP Bilitons     Feasibility
                                  (LSE/ASX Tbk)    studies

Asia Pacific Nickel        100    --               Development
Pty Ltd

PT. Antam                  100    --               Operational
Resourcindo

PT. Indonesia Coal       99.98    --               Production
Resources

PT. Cibaliung            99.15    --               Production
Sumberdaya

PT. Mega Citra            99,5    --               Explorations
Utama

PT. Indonesia               80    Showa Denko      Development
Chemical Alumina                  KK, Japan

PT. Borneo Edo            99.5    --               Explorations
International

PT. Abuki Jaya             100    --               Development
Stainless Indonesia

PT. Meratus Jaya            34    PT. Krakatau     Development
Iron & Steel                      Steel

PT. Dwimitra               100    --               Development
Enggang
Khatulistiwa

PT Nusa                  17.50    Newcrest         Production
Halmahera                         (ASX Tbk)
Minerals

PT Sorikmas                 25    Aberfoyle        Explorations
Mining                            Pungkut
                                  Investment
                                  Pte Ltd
                                  (ASX Tbk)

PT Weda Bay                 10    Strand           Construction
Nickel                            Minerals
                                  (Indonesia)
                                  Pte Ltd (joint
                                  venture
                                  Eramet and
                                  Mitsubishi)

PT Dairi Prima              20    Gain & Win       Construction
Minerals                          Pte Ltd
                                  (subsidiary of
                                  Herald
                                  Resources
                                  (ASX Tbk)

PT Galuh Cempaka            20    BDI Mining       Production
                                  Corp. (LSE/AIM
                                  Tbk)

PT. Sumbawa                 20    Eastern Star     Explorations
Timur Mining                      Resources
                                  Pty Ltd

PT Pelsart                 15.    Pelsart          No activities
Tambang Kencana                                    yet

PT. Gorontalo               20    International    Explorations
Minerals                          Co LLC
                                  (subsidiary of
                                  PT. Bumi
                                  resources)

Source: Annual report of PT Antam
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Title Annotation:COMPANY PROFILE
Publication:Indonesian Commercial Newsletter
Article Type:Company overview
Date:Feb 1, 2011
Words:3264
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