Jakarta – The impact of the recent decline in gold prices makes PT Antam (Persero) Tbk boost production of precious metals in order not to erode the company’s revenue.
“The price of gold is currently down due to the economic turmoil in the U.S. and Europe, but to offset the decline in revenue we actually have to boost gold production, the formula P x V the right price x volume, price drops production should be increased,” said President Director of PT Antam Tattoos Miraza in gathering with the media in Cikini, Jakarta, Thursday (18/07/2013)
Tattoos disclosed, for gold production of the company’s first half of 2013 was 51% above last year’s production of the same period of 2012 (unaudited).
“Gold production in 2012 reached 3.6 tons, compared to last year’s production has already reached 51% in the first half of 2013,” said Tato.
It also occurs in other commodities such as silver produced by Antam is 97% compared to the same period in 2012 and 120% coal.
“The rising price of minerals is still dependent economy America and Europe, specifically the gold market also depends on whether gold is still glancing first or look for alternatives to gold,” he said.