Jakarta. State-controlled miner Aneka Tambang (Antam) purchased 9 tons of gold from Freeport Indonesia between January and August 2026, strengthening domestic supplies for a gold business that accounts for about 80% of the company's revenue.

Antam President Director Untung Budiharto said increasing the use of domestically sourced gold was an important part of the company's strategy to strengthen its gold business and develop a more integrated national supply chain.

“The purchase of 9 tons of gold from PT Freeport Indonesia between January and August 2026 demonstrates Antam's commitment to increasing the use of domestically sourced gold,” Untung said in a statement over the weekend.

“This collaboration is an important step toward strengthening the national gold supply chain while ensuring that Indonesia's mineral resources generate greater added value domestically,” he added.

The gold, with a purity of 99.99%, was produced at Freeport Indonesia's precious metals refinery in Gresik, East Java.

Untung said cooperation between the two companies connects different parts of Indonesia's gold industry, from upstream production and refining to downstream processing and sales, while providing Antam with a reliable and traceable source of domestically produced gold.

Antam and Freeport previously signed an agreement allowing Antam to purchase up to 30 tons of gold annually.

Antam is also diversifying its domestic gold supplies through partnerships with other Indonesian producers, including Amman Mineral Nusa Tenggara, Merdeka Group, Citra Palu Minerals, Agincourt Resources, Sumbawa Jutaraya, Resources Bolaang Mongondow and Indo Muro Kencana.

Gold Generates 80% of Antam Sales
Securing external supplies has become increasingly important as gold dominates Antam's business while the company's own mine production remains far below its sales volume.

Antam sold 18.08 tons of gold in the first half of 2026, generating Rp 50.39 trillion ($2.8 billion) in revenue, up 1% from the same period a year earlier.

Gold accounted for approximately 80% of Antam's Rp 62.71 trillion in total net sales during the six-month period.

By comparison, Antam's own mines produced just 433 kilograms of gold during the first half.

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