PT Antam will bring forward optimization plans for its third ferronickel smelter to mid-May 2009 instead of July 2009 as previously planned. As Antam expects nickel prices to be stronger at the end of the year, it will take advantage of current stable nickel prices to conduct the optimization program. It also plans to operate the FeNi III smelter at maximum capacity by year-end. The optimization program is expected to be carried out over three to four months. Antam will replace the cooling system of the furnace and plans to operate the smelter at maximum capacity following the optimization program. The cost of the optimization program will be borne by the contractors who have allocated about USD 7.5 million for it. Antam’s ferronickel production target for 2009 remains unchanged at 12,000tns of nickel contained in ferronickel.
