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2025-10-28 10:50:34
[Indonesia's state-owned gold miners see strong revenue and sharp rise in profits] Indonesia's largest state-owned mining company, PT Aneka Tambang, saw its net profit more than double in the first nine months of this year, mainly due to a surge in gold sales driven by strong demand for gold. The latest financial report shows that the company achieved a profit of 5.97 trillion rupiah (about US$359.18 million) in the quarter, a significant increase from 2.2 trillion rupiah in the same period last year. Its revenue increased by 67% to 72.03 trillion rupiah. The company attributed this positive performance mainly to gold sales, which increased by 20% to 1.1 million troy ounces in the period. The company said: "Global geopolitical uncertainty, volatility in financial markets and inflation are prompting investors to transfer assets to gold as a safe-haven asset. These factors have boosted demand in the domestic market."
