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20251020_ANTM_Laporan Informasi dan Fakta Material_31978574_lamp2.pdf
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INVESTOR PRESENTATION 1H25 PT Aneka Tambang Tbk (ANTM.IJ)
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Disclaimer
This presentation may contain "forward-looking" statements that are based on numerous assumptions regarding the Company's present and future business strategies and
the environment in which the Company will operate in the future and are not a guarantee of future performance. The future events referred to in these statements involve
known and unknown risks, uncertainties and other factors, some of which are beyond the Company's control, which may cause the Company's actual results, performance or
achievements, or general industry results to be materially different from any future results, performance or achievements expressed or implied by the forward-looking
statements. Such forward-looking statements speak only as of the date on which they are made, and the Company does not undertake any obligation to update or revise any
of them, whether as a result of new information, future events or otherwise. The Company and the Agents, and their affiliates, advisers and representatives do not make any
representation, warranty or prediction that the results anticipated by such forward-looking statements will be achieved, and such forward-looking statements represent, in
each case, only one of many possible scenarios and should not be viewed as the most likely or standard scenario. Accordingly, you should not place undue reliance on any
forward-looking statements.
This presentation also contains certain statistical data and analyses (the “Statistical Information”) which have been prepared in reliance upon information furnished by the
Company and other sources. Numerous assumptions were used in preparing the Statistical Information, which assumptions may or may not appear herein. No assurance can
be given as to the Statistical Information’s accuracy, appropriateness or completeness in any particular context, nor as to whether the Statistical Information and/or the
assumptions upon which it is based reflect present market conditions or future market performance. The Statistical Information should not be construed as either projections
or predictions or as legal, tax, financial, accounting or investment advice.
The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr. Bronto Sutopo, who is a
Member of The Australasian Institute of Mining and Metallurgy. Mr. Bronto Sutopo has sufficient experience which is relevant to the style of mineralization and type of
deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr. Bronto Sutopo consents to the inclusion in the report of the matters based on his information in
the form and context in which it appears.
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Our Leaders with Demonstrated Track Records and Deep Industry
Knowledge, Committed to Advancing ANTAM’s Strategic Vision
Ratih Dewihandajani L I Dewa Wirantaya Achmad Ardianto Arianto S. Rudjito Hartono Handi Sutanto
Director of Director of President Director of Director of Director of
Human Resources Business Development Director Finance and Risk Management Operation and Production Commercial
Source: The Summary of Minutes of Annual General Shareholder Meeting 2025 | 3
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ANTAM Driving Growth Through Diversification,
Integration, and Operational Excellence
Reserves and Resources Revenue Contribution (Rp Trillions/US$ Millions)1,2
Nickel Gold Bauxite $1,167 $216 $45 $3,061 $485 $90 29%
(millions wmt) (thousand dmt | ton Au) (millions wmt) 18.9 3.5 0.7 49.7 7.9 1.5 $1,726
15% 3%
30.0 $2,000
1,309 1,319 82% 84% 13% 3% 28.0
1,400
7,000 26.47 1,200
$1,800
22.67
5,583
25.0
1,200
$1,335
5,141
$1,600
6,000
9%
1,000
1,000
5,000 21.7 $1,400
800 20.0
$253
800
4,000
547 553 $1,200
4.2
4.1 $255
490 494
600
600
3,000 15.0 $1,000 4.1 $250
6%
5.72 5.16 400 $1,427 $3,636
400
198
23.2 59.0
4.0 $245
2,000
860 805 $46
$800
122
$232 0.8
10.0 3.9 $240
200
200 1,000
$600
155%
3.8
0.8 $47
3.8 $235 $47
0.8
$44
$46
- - - 0.7
$400
$46
0.7
2023 2024 2023 2024 2023 2024 0.7
5.0 3.7 $230 $45
0.7 $45
$44
0.7
$200
3.6 $225 $44
0.7
$43
0.7
$43
Reserves Resources
- $- 3.5 $220 0.7 $42
1H24 1H25 1 2 1Q25 2Q25 1Q25 2Q25
Open Pit Underground Open Pit Profitability by Segment (Rp Trillions/US$ Millions)1,2
Nickel Mine Gold Mine Bauxite Mine *Note: Exclude HO and
$64 $9 $6 $217 $20 $199 other segment
1.0 0.1 0.1 3.5 0.3 3.2 10.0 $400
10.0 $400
4.0 $200
81% 11% 8% 50% 4% 46%
Ferronickel Plant Gold Leaching
$180
9.0
9.0
3.5
$350
$350
Plant Chemical
$160
8.0
8.0
Electric Vehicle $300
3.0
Grade Alumina
$300
Battery (EVB) Precious Metal
$140
7.0
7.0
Plant 2.5
Ecosytem Refinery and
$250 $250
70%
$120
6.0 6.0
Integrated Plant Manufacturing Smelter Grade 5.0
12% $200 5.0
$137
$200
2.0 $100
*Development phase
Plant Alumina Plant $79 $440
$105 $93 2.2
1.3 7.1
$80
4.0 4.0
1.5
$150 $150
*Commisioning phase
1.7 $81
451%
3.0
1.5 $100
3.0
1.3 $100 1.0
40%
$60
$12 $7
Precious
2.0 2.0 $40
Nickel Ore Bauxite $50 $50 0.5
0.2 0.1
Metals
1.0 1.0 $20
Ferronickel Bar 999.9 Alumina - $- - $- - $-
1H24 1H25 1Q25 2Q25 1Q25 2Q25 1Q25 2Q25
1 Exchange rate USD/IDR as of June 2025= 16,233 | 2 1H25 Financial Statement yoy Nickel Gold Bauxite qoq | 4
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Strategically Located Operations Enabling ANTAM
to Support Indonesia’s Mining Downstreaming
Tayan Tayan Mempawah West Kalimantan Pongkor 10 Logam Mulia Precious
7 7 8 8 9
Bauxite Mine CGA Plant SGA Plant Mining Development Gold Mine Metal Refinery and Mfg
Reserves : 108 million wmt Ownership : 100% Installed cap. : 1 million ton p.a. Capacity : 3 million wmt p.a. Reserves : 166 k.oz | 5.16 t Au Refinery cap. : 100 tonnes p.a.
Resources : 193 million wmt Installed cap. : 300 kton p.a. Status : Commisioning Status : Pre construction Resources : 649 k.oz | 20.19 t Au Mfg’ cap. : ~30 – 40 tonnes p.a.
11 Gresik Precious
Metal Manufacturing
Mfg’ cap. : ~30 tonnes p.a.
Status : Pre-Construction
Medan
Kuala Tanjung
5 3
Bintan
8 Mempawah Maba
Pekanbaru Weda
Pontianak Tayan 6
IK Nusantara Gag
7 Balikpapan
Obi 4
Pangkalpinang
Nickel Soroako
Ketapang Morowali
Palembang
North
Bauxite Konawe Morosi
2 Tembagapura
Kolaka
Makassar
Precious Metals 10
Bantaeng
Tangerang Jakarta 11 1
Bogor Bandung Semarang Gresik
Surabaya
Yogyakarta
Development phase 9 Denpasar
Butik Emas LM (Gold Boutique) 6 PT Sumber Daya Arindo
(SDA) Nickel Mine
Reserves : 228 million wmt
Resources : 294 million wmt
Kolaka 2 North Konawe North Maluku 4 PT Gag Nikel 5 PT Jiu Long Metal Industri PT Nusa Karya Arindo
1 3 6
Nickel Mine Nickel Mine Nickel Mine (GN) Nickel Mine NPI Plant (NKA) Nickel Mine
Reserves : 20 million wmt Reserves : 49 million wmt Reserves : 13 million wmt Reserves : 56 million wmt Ownership : 30% Reserves : 128 million wmt
Resources : 58 million wmt Resources : 234 million wmt Resources : 39 million wmt Resources : 320 million wmt Installed cap. : 28 kTNi p.a. Resources : 374 million wmt
Kolaka East Halmahera 5 PT Weda Bay Nickel 6 EVB Ecosystem
1 3
Ferronickel Plant Ferronickel Plant NPI Plant and Nickel Mine Integrated Plant
Capacity : 27 kTNi p.a Capacity : 13.5 kTNi p.a Ownership : 10% ANTAM Scope : RKEF, HPAL
Status : Commercial Status : Commisioning Installed cap. : 30 kTNI p.a. Status : Pre-Construction
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ANTAM Solid Fundamental Backed by Government and Investor
Trust
ANTAM Gains Growing Foreign Interest ANTAM Leverages MIND ID’s Strategic Holding Framework to Unlock Potential Synergy
3,040
97%
1,545
99%
1% Series A
Dwiwarna
owned by GoI
Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 1 Series A PT Danantara
Dwiwarna Asset Management
Share Price owned by GoI
99,99%
12% 12% 12% 15% 19% 21% 1 Series A
23% 23% 23% Dwiwarna
20% 16% 14% owned by GoI
65% 65% 65% 65% 65% 65%
Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25
65% 100% 34%
21%
ANTAM Preserve Investment-Grade Profile
INDONESIA MIND ID ANTAM 14% 65%
Moody’s Baa2 Moody’s Baa2
Stable outlook Stable outlook Pefindo idAA 65.93% 51.24% 100%
Stable outlook
Fitch Rating BBB Fitch Rating BBB-
Stable outlook Positive outlook
MIND ID Domestic Foreign
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ANTAM’s Consistent Commitment to Advancing ESG Excellence
Environment Performance1 Occupational Health and Safety1
Total Trees Planted Safety Performance Frequency Rate (FR)
Program for Zero Fatal
Environmental 28,996 trees Accident Target: Zero 0.10 Target: 0.17
Management and
Compliance Total Emission Total Recordable Incident Rate (TRIR) Severity Rate (SR)
Ministry of
0.8 12%
0.04 21.25
Target: 0.06 Target: 114
Environment
million tons CO2 eq
• Gold Proper
• Green Proper 1 1H25 Internal Report (unaudited)
• Blue Proper GHG Emission Reduction
9.35% Target: 2.70%
Contribution to Nation2
Total Energy Consumption Non Tax and Duty Taxation (Central)
4.3 33%
million tons GJ Rp491 billion Rp1.9 trillion
Good Mining Practices
and Operational Reclamation Dividend* Local Taxation and Retribution
Excellence Recognition
77.19 Ha Rp3.6 Rp5.1
Target: 125.41 Ha
Ministry of Energy and trillion
billion
Mineral Resources *According to the AGMS 2024 (12th June 2025)
• Utama Awards Environmental Funds dan Investments 2 1H25 (limited review)
• Pratama Awards
Rp90.49 billion
1 1H25 Internal Report (unaudited) Source: Internal Report, Financial Statement 1H25 (limited review) | 7
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ANTAM Advancing Strong Governance, Risk Excellence,
and Renewable Energy Leadership
ICDX Renewable Energy Certificate Market
Indonesia Commodity Derivative Exchange (2025)
• Pioneer of the Indonesia Renewable Energy Certificate Market
• Most Valuable Member Digital Gold
94%
Total Renewable Energy Composition at ANTAM’s Precious
Metals Processing and Refinery Unit (UBPP Logam Mulia)
ASEAN CG Scorecard 84.74%
ANTAM are recognized in ASEAN Corporate
Governance Award as one of the corporate
governance excellence among the top performing
public listed companies (PLCs) in the ASEAN region.
It shows that ANTAM operates with transparency,
accountability, fairness, and responsibility.
ANTAM Improves ESG Risk Rating Through Enhanced Sustainability Practices
2023 2024 1Q25 2Q25
35.2 High
Risk
Risk rating as of 1 Jul 2025
Risk Ranking
Diversified
35.9 35.2 Metals
40.5 42.1
61 out of 221
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Operational
Highlight
Production and Sales Performance
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Gold Production and Sales
Production Volume Sales Volume and Average Selling Price
(ton) (ton | USD/t.oz) 3,211
2,988
2,580 2,839 57.1
2,746
2,643
2,297
43.8 41.5 15.6
2,038
13.7
29.3
26.1 27.8
16.0 15.6
15.2
12.6
1.2 1.0 0.8 1.0
0.6 8.9
0.3 0.2
0.4 0.4
0.2 13.7
0.3 0.2 7.1
2023 2024 3Q24 3Q-4Q24 3Q-1Q25 TTM 2Q25 1H24 1H25 2023 2024 3Q24 3Q-4Q24 3Q-1Q25 TTM 2Q25 1H24 1H25
Sales Revenue1 Sales Destination 1H25
(IDR trillions, USD millions)
$3,548 $5,442
Rp57.6 Rp88.3 Wholesaler 69%
68%
$3,721
27.9
Rp60.4 $3,052
Retail
$1,608
$2,390 Rp49.5
Boutiques 23%
Rp38.8 21.6
Rp26.1 Corporate,
$1,041 $1,160 27.9
Rp16.9 21.9 Rp18.8 Digital and 9%
Others
11.2 21.6
7.7
2023 2024 3Q24 3Q-4Q24 3Q-1Q25 TTM-2Q25 1H24 1H25
1 Exchange rate USD/IDR as of June 2025= 16,233 | 10
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Nickel Ore Production and Sales
Production Volume Sales Volume and Average Selling Price
(millions wmt) (millions wmt | USD/wmt)
49.8
46.6 47.2
13.5 14.9
44.1 13.2
41.1 42.9
4.5 11.7 42.7 37.2
10.4
9.9 9.1 4.4
8.8
8.4
4.6
5.7 4.5 3.8
8.2
5.0
4.2
3.1 2.6 4.4
2.4 2.6 3.4
2.7
4.6
2.4 3.8
1.4 1.0
2023 2024 3Q24 3Q-4Q24 3Q-1Q25 TTM-2Q25 1H24 1H25 2023 2024 3Q24 3Q-4Q24 3Q-1Q25 TTM-2Q25 1H24 1H25
Sales Revenue1 Sales Destination 1H25
(IDR trillions, USD millions )
$624
Rp10.1 Weda
$512
Rp8.3 $383 $413 Domestic 100%
$331 3.91
Rp6.2 Rp6.7 Obi
Rp5.4 Morowali
$211
$96
Rp3.4 2.8 $120 3.9 Export -
Morosi
Rp1.6 1.9 Rp2.0
1.4 2.8 Bantaeng
2023 2024 3Q24 3Q-4Q24 3Q-1Q25 TTM-2Q25 1H24 1H25
1 Exchange rate USD/IDR as of June 2025= 16,233 | 11
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Ferronickel Production and Sales
Production Volume Sales Volume and Average Selling Price
(kilo ton Ni) (kilo ton Ni | USD/ton Ni)
14,816
13,590 13,788
13,253 13,228
12,953
12,930
12,326
21.5 20.1 19.0 20.1 19.5 17.4 18.4
14.4
4.6 10.2 12.6 0.9
9.9 9.1 4.8
4.5
5.1 4.8 7.8 6.9 5.8
4.9 5.4 4.6
0.9
4.8 4.5 4.8
2023 2024 3Q24 3Q-4Q24 3Q-1Q25 TTM-2Q25 1H24 1H25 2023 2024 3Q24 3Q-4Q24 3Q-1Q25 TTM-2Q25 1H24 1H25
Sales Revenue1 Sales Destination 1H25
(IDR trillions, USD millions )
South
Korea 40%
Netherlands 86%
China South Korea
China 31%
$281
$283
$253 $210
$270 India India 26%
Rp4.6 Rp3.7
Rp4.1 $113 Rp3.6 $71
Rp2.6 0.2 $46 Others 2%
3%
1.0 Rp1.6
Rp1.0 Rp1.2
1.6
1.0
2023 2024 3Q24 3Q-4Q24 3Q24-1Q25 TTM-2Q25 1H24 1H25
1 Exchange rate USD/IDR as of June 2025= 16,233 | 12
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Bauxite Production and Sales
Production Volume Sales Volume and Average Selling Price
(millions wmt) (millions wmt | USD/wmt)
2.2 32.3 31.6
29.5
2.0 26.6 26.8
26.4
20.4 1.8
0.7
1.4 1.4 1.5
1.3 0.5
1.2
0.7 1.0
0.8 0.7
0.5
0.5 0.7 0.7 0.5
0.7 0.1 0.6
0.1 0.4 0.7
… 0.5
0.2 0
0.1
2023 2024 3Q24 3Q-4Q24 3Q-1Q25 TTM-2Q25 1H24 1H25 2023 2024 3Q24 3Q-4Q24 3Q-1Q25 TTM-2Q25 1H24 1H25
Sales Revenue1 Sales Destination 1H25
(IDR trillions, USD millions )
$52
Rp0.9
$36 0.3 Bintan Mempawah
Rp0.6 $33
$29
Rp0.5 Domestic 100%
Rp0.5
$19 $19
0.3
Rp0.3 0.3
Rp0.3
Export -
$3 0.3
0.3
Rp0.05
0.05 0.00
2023 2024 3Q24 3Q-4Q24 3Q-1Q25 TTM-2Q25 1H24 1H25
1 Exchange rate USD/IDR as of June 2025= 16,233 | 13
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Financial Highlight
Income Statement and
Statement of Financial Position
| 14
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ANTAM Continues to Deliver High Revenue Record
Through Strong Market and Operational Performance
Revenue Gross Profit
(IDR billion, USD million) 15% (IDR billion, USD million)
14%
6,470 12%
105,023 784
4,445 11% 12,732
4,262 72,155 32,868 10% 10%
69,912 3,636 9% 9%
2,834 501 4,601 507
59,020
26,152 400 8,131 8,238
2,529 46,003 389
41,048 6,315 6,498
32,868 277 3,636
1,233 4,601
25,991 1,429 4,495
20,012 23,189 129
123
2,100 2,395
14,569 2,003
26,152 3,636
8,621 1,753
2023 2024 3Q24 3Q-4Q24 3Q-1Q25 TTM-2Q25 1H24 1H25 2023 2024 3Q24 3Q-4Q24 3Q-1Q25 TTM-2Q25 1H24 1H25
EBITDA Net Income
(IDR billion, USD million) (IDR billion, USD million)
16%
9%
12%
7% 7% 7%
11% 11% 10%
10%
9% 703
461
8% 6% 6% 7,483
11.420
467 5% 287 317
414 3,837 438 237
403 2,820
7,583 7,113 4% 4,663 5,143
6,549 6,727 265 190 3,852
144
4,308 3,275 3,078
93 149 3,837 2,339 2,323 93 2,820
44
1,512 2,419 1,513
2.795 717 1,622
1,891 3,275 1,302 2,323
2023 2024 3Q24 3Q-4Q24 3Q-1Q25 TTM-2Q25 1H24 1H25 2023 2024 3Q24 3Q-4Q24 3Q-1Q25 TTM-2Q25 1H24 1H25
Exchange rate USD/IDR as of June 2025= 16,233 Margin | 15
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Strong Financial Capacity Enabling ANTAM’s Strategic Growth Plans
Cash & Cash Equivalents Total Assets
(IDR billion, USD million) (IDR billion, USD million)
14%
7% 9%
6% 2,980
1,601
2,640 2,414 48,378
42,851 44,523
39,182
567 539 648
293
9,209 8,752 10,514
4,752
3,598
11,857 6,916
2023 2024 1H24 1H25 2023 2024 1H24 1H25
Total Interest-Bearing Debt Total Equity
(IDR billion, USD million) (IDR billion, USD million)
1.09
21%
10% 12%
7%
2,076
0.38 1,920 1,984 1,829
0.03 31,166 32,200 33,706
154 0.00 163 29,692
2,508 2,650
15
1,237
-
- 250
1,413
2023 2024 1H24 1H25 2023 2024 1H24 1H25
Exchange rate USD/IDR as of June 2025= 16,233 Debt/Ebitda TTM-ROA TTM-ROE | 16
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Development
Highlight
Growth Story
| 17
Page 18
Gold Bar Sales and Purchase Agreement between PTFI and ANTAM
Location:
East Jakarta, Jakarta
Gresik, East Java
Sales Quantity:
Up to ± 30 tons of Gold Bar p.a.
99.99% Au
| 18
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Gresik Precious Metal Manufacturing Plant
Location:
Gresik, East Java
Ownership
100% ANTAM
Expected Product Output:
Up to 5 million pcs p.a.
gold minted bars and coins
Expected Plant Capacity:
~30 ton of 99.99 Au
Est. Total Investment:
~Rp 1.1 Triliun eq. ~USD 70 Mio
Status:
Pre-Construction
| 19
Page 20
Electric Vehicle Battery Ecosystem Development Project - RKEF JV
Location:
Buli, East Halmahera
Partners:
CBL Consortium (CATL, Brunp, Lygend)
Ownership:
40% ANTAM
Capacity:
88,000 ton p.a. NPI
Timeline:
2025 – 2027
Est. Project Costs:
~US$1.4 billion
Status:
Pre – EPC & Pre – Project Financing
Project Scope:
RKEF Plant 8 Lines and Industrial Park
| 20
Page 21
Electric Vehicle Battery Ecosystem Development Project - HPAL JV
Location:c
Buli, East Halmahera
Partners:
CBL Consortium (CATL, Brunp,
Lygend)
Ownership:
30% ANTAM
Capacity:
55,000 ton p.a MHP
Timeline:
2026 – 2028
Est. Project Costs:
~US$1.9 billion
Status:
JVCo Establishment
Project Scope:
HPAL Plant
| 21
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Smelter Grade Alumina (SGA) Refinery Mempawah Project
Location:
Mempawah,
West Kalimantan
Ownership:
40% ANTAM, 60% INALUM
Capacity:
1 mio ton p.a.
Est. Total Investment:
~USD900 million
Est. Operational Life-Time:
20 years
Status:
Commissioning
| 22
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INVESTOR RELATIONS OFFICE Gedung Aneka Tambang Tower A Jl. Letjen. T.B. Simatupang No. 1 Lingkar Selatan, Tanjung Barat Jakarta 12530, Indonesia (62-21) 789 1234 (62-21) 789 1224 For any inquiries, please contact us through: investor.relation@antam.com
Names mentioned 13 people and organisations named in the text · linked when the evidence is strong
unresolved
person
Bronto Sutopo
p.2 ×3
unresolved
org
PT Sumber Daya Arindo
p.5
unresolved
org
PT Gag Nikel
p.5
unresolved
org
PT Jiu Long Metal Industri
p.5
unresolved
org
PT Nusa Karya Arindo
p.5
unresolved
org
PT Weda Bay Nickel
p.5
unresolved
org
PT Danantara Dwiwarna
p.6
unresolved
org
Ministry of Energy
p.7
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