ID :
100758
Sun, 01/17/2010 - 22:55
Auther :
Shortlink :
https://www.oananews.org//node/100758
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GOVT TARGETS STATE MINING FIRMS` 2010 PROFIT AT RP4.94 TRILLION
Jakarta, Jan 17 (ANTARA) - The government has set the target of state mining firms' net profit for 2010 at Rp4.94 trillion, up 20.26 percent from last year's forecast of Rp4.11 trillion.
"We increase the target to more than 20 percent on the assumption that the prices of minerals in the international market will soar this year," Secretary of the State Enterprises Ministry Said Didu said on Sunday.
The rebounding global economy would prompt increasing demand for mining products, he said.
"From the standpoint of consumption we have no problem. State mining firms will find the market for whatever they will produce," he said.
The prices of mining products such as gold, nickel, tin, copper are expected to soar this year, he said.
There are three state mining firms. They are PT Aneka Tambang Tbk (Antam), PT Timah Tbk, and PT Batubara Bukit Asam Tbk.
In 2010, the three companies are expected to allocate Rp9.75 trillion for capital expenditures, a 278.5 percent surge compared to last year's Rp2.58 trillion.
Said Didu said the three-fold increase in capital expenditures was caused by the need for huge investment in the downstream sector and the construction of infrastructure facilities.
In the downstream industry, PT Timah and PT Antam will use capital expenditures for the purpose of nickel, gold and bauxite melting plants, he said.***
"We increase the target to more than 20 percent on the assumption that the prices of minerals in the international market will soar this year," Secretary of the State Enterprises Ministry Said Didu said on Sunday.
The rebounding global economy would prompt increasing demand for mining products, he said.
"From the standpoint of consumption we have no problem. State mining firms will find the market for whatever they will produce," he said.
The prices of mining products such as gold, nickel, tin, copper are expected to soar this year, he said.
There are three state mining firms. They are PT Aneka Tambang Tbk (Antam), PT Timah Tbk, and PT Batubara Bukit Asam Tbk.
In 2010, the three companies are expected to allocate Rp9.75 trillion for capital expenditures, a 278.5 percent surge compared to last year's Rp2.58 trillion.
Said Didu said the three-fold increase in capital expenditures was caused by the need for huge investment in the downstream sector and the construction of infrastructure facilities.
In the downstream industry, PT Timah and PT Antam will use capital expenditures for the purpose of nickel, gold and bauxite melting plants, he said.***
