On September 2, 2022, Indonesian nickel miner PT Aneka Tambang (ANTAM) released its Q2 2022 production report, which showed:
For ferronickel, ANTAM's ferronickel production (unaudited) was 6,301 tonnes of metal in Q2, up 11% quarter-on-quarter; Ferronickel sales (unaudited) were 3,962 metal tonnes, down 30% month-on-month. The decline in nickel-iron sales in the second quarter of 2022 was affected by the pandemic lockdown in several East Asian sales locations, as well as limited export trading activities. In addition, the sharp fluctuations in nickel prices during the second quarter also affected customer purchase levels of ferronickel products.
In the first half of 2022, nickel-iron sales became the second largest contributor to Antam's revenue, or 3.12 trillion rupiah, up 20% year on year.
For nickel, ANTAM nickel production (unaudited) for the quarter was approximately 1.48 million wet tons, down 49% quarter-on-quarter; Nickel ore sales (unaudited) were 709,000 wet tonnes, down 70 per cent month-on-month. The decline in nickel mine sales in the second quarter of 2022 was impacted by a sharp increase in nickel ore prices. In the second quarter, prices of nickel derivatives, such as stainless steel, did not rise in line, which also hurt nickel sales.
Nickel ore sales contributed 2.33 trillion rupiah in the first half of 2022, accounting for 14 percent of Antam's total sales.
Specific production and sales are shown in the figure below:
