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MarketScreener Homepage  >  Equities  >  INDONESIA STOCK EXCHANGE  >  Aneka Tambang Tbk PT    ANTM   ID1000106602

ANEKA TAMBANG TBK PT

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Aneka Tambang Tbk PT : Indonesia allows nine companies to resume nickel ore exports

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11/11/2019 | 03:15am EST
FILE PHOTO: Trucks carry raw nickel near Sorowako

Indonesia has allowed nine companies to resume nickel ore exports after inspections into reports of ore export rules violations, Heru Pambudi, the director general of the country's customs office, said on Monday.

Among the companies allowed to export ore again are state-controlled miner PT Aneka Tambang and PT Trimegah Bangun Persada, according to an official document reviewed by Reuters and verified by a mining ministry official on Monday.

Indonesia, the world's biggest nickel ore exporter, had halted shipments on Oct. 28 following reports showed a surge in exports after the country brought forward a ban on exports by two years to January.

To export nickel ore, Indonesian miners are required to build smelters and authorities would review progress of their projects every six months.

"The nine companies have shown that their smelter projects were progressing as planned, have valid exports approval documents and their ores met with required contents," Pambudi said to reporters after a meeting with Luhut Pandjaitan, the coordinating minister who oversees the mining sector.

Two other exporters are still facing further review related to the progress of their smelters development, Pambudi said.

Authorities were reviewing a total of 11 companies, he said.

Luhut Pandjaitan also told reporters that the review of the two other companies will "hopefully" finish this week.

"As long as they follow the rules, we will let them export," he said.

At least 20 vessels were held at ports after the government restricted the nickel ore exports, Meidy Katrin Lengkey, secretary general of Indonesia's nickel miners association (APNI), said last week.

The export surge reportedly included large sales of high-grade nickel ore though Indonesia only allows exports of ore with less than 1.7% nickel content.

(Reporting by Wilda Asmarini; Writing by Fransiska Nangoy; Editing by Christian Schmollinger)

Stocks mentioned in the article
ChangeLast1st jan.
ANEKA TAMBANG TBK PT End-of-day quote.
LME NICKEL CASH -0.64% 13165 End-of-day quote.26.10%
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Financials (IDR)
Sales 2019 30 038 B
EBIT 2019 1 754 B
Net income 2019 911 B
Debt 2019 6 601 B
Yield 2019 1,27%
P/E ratio 2019 21,3x
P/E ratio 2020 17,3x
EV / Sales2019 644x
EV / Sales2020 608x
Capitalization 19 345 B
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 7
Average target price 1 090,00  IDR
Last Close Price 805,00  IDR
Spread / Highest target 55,3%
Spread / Average Target 35,4%
Spread / Lowest Target -34,2%
EPS Revisions
Managers
NameTitle
Arie Prabowo Ariotedjo President Director
Dimas Wikan Pramudhito Finance Director
Zakri Muhammad VP-Information & Communication Technology
Buyung Zaelani Commissioner
Gumilar Rusliwa Somantri Independent Commissioner
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