With operations spread throughout the mineral-rich Indonesian archipelago, Antam undertakes all activities from exploration, excavation, processing through to marketing of nickel ore, ferronickel, gold, silver, and bauxite. The company has long term loyal blue chip customers in Europe and Asia. Due to the vastness of the company's licensed exploration areas as well as its known large holdings of h
igh quality reserves and resources, Antam has formed several joint ventures with international partners to profitably develop geological ore bodies into profitable mines. The company generates healthy cash flows, and has prudent capital management. The company became a limited liability state-controlled company in 1968 with the merger of several single commodity mining companies. In 1997, the company conducted an initial public offering (IPO) and listed its shares on the Indonesia Stock Exchange and 35% were sold by the government to the public, to raise money for a ferronickel expansion. In 1999, Antam listed its shares in Australia as a foreign exempt entity and then in 2002 augmented its status to the more stringent ASX Listing. Antam's objectives are centered on increasing shareholder value. The companyf's main objective is to enhance shareholder value by lowering costs while profitably expanding operations in a sustainable manner. The strategy maintains focus on Antam's core business of nickel, gold and bauxite with a view to maximizing output in order to increase cash generation and lower unit costs. Antam plans to sustain growth through reliable expansion projects, strategic alliances, increasing quality reserves and adding value by moving away from selling raw materials and increasing processing activities. Antam will also maintain financial strength. By generating as much cash as possible Antam ensures it will have sufficient funds to repay debts, finance continued growth and pay dividends. Lowering costs means operating more efficiently and productively, as well as increasing capacity to benefit from economies of scale. As a mining company, Antam realizes its operations have a direct impact on the surrounding environment and nearby communities. Environmental sustainability and community development are not viewed merely as being socially responsible, but also as risk management. The characteristic of mining in Indonesia is that it plays a big role in the development of remote areas and so given the mine's large role in community development it is crucial to operate not as an outsider but as a member of the community and a good corporate citizen and thereby reduce the likelihood of business interruptions. Antam believes environmental sustainability and proactive community development are necessary to successfully operate a mine. Serious attention to natural conservation efforts and proactive participation in community development are one of the keys to successful mining activities.
