In our last episode, we provided a primer on Indonesia’s exciting macroeconomic landscape and discussed recent efforts to establish a full battery and EV supply chain domestically in the mineral-rich country. This episode is a deep-dive into one of the key beneficiaries of this trend, PT Aneka Tambang Tbk (ANTM.JK, ANTM IJ, ATM.AX, ATM AU, “ANTAM”). In our previous episode, we also cited an article by
highlighting that Indonesia is an investible market for international (retail) investors through the right broker. The time of recording was on 17 May 2023.WHAT IS ANTAM?
ANTAM is a state-owned gold and nickel miner in Indonesia, which has the largest nickel deposits in the world. The Company has the largest nickel reserves among its local peers.
ANTAM listed on the Indonesian Stock Exchange (IDX) in 1997, selling 35% of its shares in the process. It also listed its shares on the Australian Stock Exchange (ASX) as a foreign exempt entity in 1999 before abiding it status by the more stringent ASX listing in 2002. The business was initially involved in other minerals including bauxite, coal, mineral sands, but over the past five years the company has largely cleaned up its unprofitable businesses and now mainly focuses on nickel and gold mining.
