Indonesian Miner Antam’s Net Income Soars on Gold Demand
A worker at PT Aneka Tambang’s Pongkor underground gold mine, in Bogor, West Java, Indonesia.
Photographer: Daeng Mansur/AFP/Getty ImagesIndonesian state miner PT Aneka Tambang more than doubled its net income in the first nine months of the year, driven by a surge in gold sales amid strong demand for the precious metal.
Antam, as the company is popularly known, reported a profit of 5.97 trillion rupiah ($359.18 million) for the period, a significant increase from 2.2 trillion rupiah a year earlier, according to its latest financial report. Its revenue climbed 67% to 72.03 trillion rupiah.