PT Aneka Tambang Tbk Expands Gold Exploration to Saudi Arabia
PT Aneka Tambang Tbk (Antam) is pursuing gold exploration opportunities in Saudi Arabia, having registered for a bidding process for gold prospect blocks. This move is part of Antam's strategy to optimize existing assets while seeking new growth avenues amid geopolitical challenges.
PT Aneka Tambang Tbk (Antam) is expanding its gold exploration efforts internationally, specifically targeting Saudi Arabia. The company has submitted bids for gold prospect blocks, although the process is currently delayed due to Middle Eastern geopolitical issues.
AI-curated by TheiaAntam is also engaged in domestic initiatives, including organic exploration of existing mining licenses and joint ventures with the Geology Agency to identify new prospects. Additionally, Antam is strengthening its bauxite business through the Smelter Grade Alumina Refinery (SGAR) Phase 2 project, expected to begin commercial operations by 2027-2028.
Financially, Antam reported a net profit of Rp6.6 trillion as of September 2025, marking a 197% increase year-on-year. The integration of SGAR with aluminum production will enhance domestic supply chains.
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