PT ANTAM Tbk Kantor Pusat Head Office

Create Sustainable Growth

www.antam.com

Misi dari laporan tahunan ini adalah untuk memberikan gambaran yang jelas, positif dan benar mengenai perusahaan sebagai informasi yang perlu diketahui pemangku kepentingan (stakeholders).

untuk keterangan lebih lanjut mengenai laporan tahunan ini, silakan menghubungi tim Hubungan investor antam dengan e-mail: eko.endriawan@antam.com dan ftriadi@antam.com. Kami akan senang untuk melakukan dialog dengan anda dan harapan kami adalah laporan tahunan ini merupakan awal dari dialog tersebut.

it is the mission of this annual report to create a clear and positive picture of the company without distorting the truth, to keep our stakeholders informed.

Inilah strategi kami dalam menghadapi tantangan...

these are our strategies in meeting the challenges...

Daftar Isi

Content

Deskripsi tentang Antam Analisis dan Diskusi

antam’s description

Manajemen

96 tuJuAn PeruSAhAAn - MenInGKAtKAn nILAI

Management analysis and

PeMeGAnG SAhAM

discussion

ObjeCtiVeS OF antaM 117 - enHanCing SHareHOlderS’ PenJuALAn reVenue Value

120 hArGA POKOK PenJuALAn

97 nIKeL

COSt OF SaleS

niCKel

124 BeBAn DAn LABA uSAhA

99 eMAS

Operating expenSeS and

gOld

prOFit

99 BAuKSIt bauxite

124 PenDAPAtAn LAIn-LAIn DAn PenDAPAtAn BerSIh

100 PeLAnGGAn DAn PASAr

OtHer inCOMe and net prOFit

CuStOMerS and MarKet

126 nerACA KOnSOLIDASI

101 InDuStrI DAn

COnSOlidated balanCe SHeet

KOMODItAS 128 induStry and COMMOditieS tOtAL KewAJIBAn KOnSOLIDASI

Sekilas Antam tOtal COnSOlidated

tata Kelola Antam

102 KOMPetISI

COMpetitiOn

liabilitieS

Our Company

governance of antam

129 102 tOtAL eKuItAS KOnSOLIDASI POLItIK tOtal COnSOlidated

FAKtOr eKOnOMI DAn

4 IKhtISAr KeuAnGAn FinanCial HigHligHtS

44 LAPOrAn PenILAIAn tAtA KeLOLA PeruSAhAAn

pOlitiCal and eCOnOMiC

StOCKHOlderS’ eQuity

aSSeSSMent repOrt On

FaCtOrS

129 AruS KAS

7 ViSiOn 2010 and MiSSiOn COrpOrate gOVernanCe

VISI 2010 DAn MISI

105 huKuM

PerMASALAhAn

CaSH FlOwS

tAtA KeLOLA AntAM

48 gOVernanCe OF antaM

legal iSSueS

130 DAn LIKuIDItAS

TREASURY, StruKtur MODAL

8 IDentItAS PeruSAhAAn

COrpOrate identity

9 and liQuidity GOVernAnCe PrInCIPLeS AnD

ADOPSI ASX COrPOrAte

82 107 StruKtur DAn MAnAJeMen

PeruBAhAn PADA

treaSury, Capital StruCture

StruKtur OrGAnISASI

OrganizatiOn StruCture

reCOMMenDAtIOnS

PeruSAhAAn

PerIStIwA SeteLAh tAnGGAL

10 nerACA

AnAK PeruSAhAAn DAn

adOptiOn OF aSx COrpOrate

CHangeS in COMpany

PeruSAhAAn AFILIASI

SubSeQuent eVentS SubSidiarieS and aFFiliated

gOVernanCe prinCipleS and

StruCture and ManageMent

112 COMpanieS wAwAnCArA DenGAn BAPAK 133 trAnSAKSI LInDunG nILAI

reCOMMendatiOnS

86 ADOPSI PeDOMAn uMuM GCG

Dr. Ir. BAMBAnG SetIAwAn,

DAn InVeStASI FInAnSIAL

12 MAtA uAnG PerIStIwA PentInG 2008

InDOneSIA

DIreKtur JenDerAL MInerAL,

SigniFiCant eVentS 2008

adOptiOn OF indOneSia

BAtuBArA DAn PAnAS BuMI

FOreign exCHange Hedging

COde OF gOOd COrpOrate

interView witH

tranSaCtiOnS and FinanCial

14 wILAyAh OPerASI

gOVernanCe

dr. ir. baMbang Setiawan,

inVeStMentS

DAn PrOyeK-PrOyeK

direCtOr general OF

PenGeMBAnGAn

MineralS, COal and

Current OperatiOnS and

Sumber Daya Manusia

geOtHerMal

Manajemen risiko

deVelOpMent prOjeCtS

Our Human resources

114 wAwAnCArA DenGAn BAPAK

risk Management

SertIFIKASI

KeBIJAKAn PenGeLOLAAn

Dr. Ir. SAhALA LuMBAn

MAnAJeMen rISIKO

CertiFiCatiOn

SuMBer DAyA MAnuSIA

GAOL, MA, DePutI MenterI

neGArA BuMn BIDAnG

riSK ManajeMen

19 PenGhArGAAn DAn

HuMan reSOurCeS

136 tentAnG tAnGGunG JAwAB

PenGAKuAn eKSternAL

ManageMent pOliCy

uSAhA PertAMBAnGAn,

SurAt PenyAtAAn DIreKSI

InDuStrI StrAteGIS, enerGI

external aCCOladeS and

LAtAr BeLAKAnG PenDIDIKAn

91 eduCatiOn baCKgrOund

DAn teLeKOMunIKASI

AtAS MAnAJeMen rISIKO DAn

reCOgnitiOn

interView witH dr. ir. SaHala

PenGenDALIAn InternAL

91 direCtOrS’ StateMent PeLAtIhAn DAn PenGeMBAnGAn

luMban gaOl, Ma, deputy

State MiniSter OF State-

regarding reSpOnSibility FOr

Kepada Pemegang Saham

training and deVelOpMent

Owned enterpriSeS in Mining,

tHe riSK ManageMent and

dear Shareholder internal COntrOl

StrategiC induStry, energy

93 huBunGAn InDuStrIAL

and teleCOMMuniCatiOnS

20 LAPOrAn DewAn KOMISArIS

induStrial relatiOnS

repOrt FrOM tHe bOard OF COMMiSSiOnerS

93 KeSeJAhterAAn KAryAwAn eMplOyeeS’ welFare

KeSeLAMAtAn DAn KeSehAtAn

eksplorasi dan Cadangan

24 PrOFIL DewAn KOMISArIS

antaM’S bOard OF

KerJA

exploration and reserves

COMMiSSiOnerS

wOrK SaFety and HealtH

95 PrOGrAM PenSIun DAn KeSehAtAn PenSIunAn

140 nIKeL

26 niCKel

LAPOrAn DIreKSI

repOrt FrOM tHe bOard OF

penSiOn plan and penSiOnerS’

direCtOrS

HealtH

143 eMAS gOld

36 tAnyA JAwAB DenGAn DIreKSI

144 BAuKSIt

Q & a witH tHe bOard OF

bauxite

direCtOrS

145 BAtuBArA

40 COal

PrOFIL DIreKSI

antaM’S bOard OF direCtOrS

42 MeneruSKAn tAMPuK KePeMIMPInAn

paSSing tHe battOn

Kegiatan tanggung Jawab Sosial Antam

Our Corporate Social Responsibility

179 ArtI tAnGGunG JAwAB SOSIAL BAGI AntAM

THE IMpORTANCE OF CSR FOR ANTAM

181 KInerJA eKOnOMI ECONOMIC pERFORMANCE 181 KInerJA SOSIAL SOCIAL pERFORMANCE 182 KInerJA LInGKunGAn ENVIRONMENTAL

Laporan Keuangan Investasi untuk

Konsolidasian Menghadapi tantangan

160 Pt DAIrI PrIMA MInerALS (AntAM 20%)

MANAGEMENT pERFORMANCE

pT DAIRI pRIMA MINERALS

183 PrODuK pRODUCT

Consolidated Financial

Report 160 investing for Facing the Pt SOrIKMAS MInInG pT SORIKMAS MINING

ke Depan

(ANTAM 20%)

184 PenGheMAtAn enerGI DAn PeMAnFAAtAn LIMBAh

188 SurAt PernyAtAAn DIreKSI

Challenges

(ANTAM 25%)

ENERGy CONSERVATION AND

tentAnG tAnGGunG

USE OF wASTE

JAwAB AtAS LAPOrAn

150 PrOyeK CheMICAL GrADe

KeuAnGAn KOnSOLIDASIAn ALuMInA tAyAn

161 Pt weDA BAy nICKeL

bOARD OF DIRECTOR’S tayan CHeMiCal grade

(AntAM 10%)

184 huBunGAn DenGAn PArA

STATEMENT OF aluMina prOjeCt

pT wEDA bAy NICKEL

PeMAnGKu KePentInGAn

STAKEHOLDERS’ RELATIONSHIp

RESpONSIbILITy OVER THE

184 tAnGGunG JAwAB SOSIAL

CONSOLIDATED FINANCIAL

PrOyeK PeMBAnGKIt LIStrIK

161 Pt CIBALIunG SuMBerDAyA

(AntAM 5%)

yAnG BerKeLAnJutAn

STATEMENTS

tenAGA uAP (PLtu) POMALAA

pT CIbALIUNG SUMbERDAyA

SUSTAINAbLE CORpORATE

pOMalaa COal Fired pOwer

SOCIAL RESpONSIbILITy

189 LAPOrAn AuDItOr

plant prOjeCt

(ANTAM 5%)

InDePenDen

INDEpENDENT AUDITORS’

151 renCAnA InVeStASI PADA

REpORT

PrOyeK eMAS MArtABe

hubungan Investor

inVeStMent plan at tHe Martabe gOld prOjeCt

Investor Relations

191 nerACA KOnSOLIDASIAn CONSOLIDATED FINANCIAL

huBunGAn InVeStOr

STATEMENTS

152 PrOyeK-PrOyeK SMeLter

GrADe ALuMInA

INVESTOR RELATIONS

198 CAtAtAn AtAS LAPOrAn

SMelter grade aluMina

166 COMMENTS FROM OUR

PenDAPAt AnALIS KAMI

KeuAnGAn KOnSOLIDASIAn

prOjeCtS

NOTES TO THE CONSOLIDATED

ANALySTS

FINANCIAL STATEMENTS

152 PrOyeK SPOnGe IrOn KALIMAntAn SeLAtAn

167 weBSIte BAru KAMI

SOutH KaliMantan SpOnge

OUR NEw wEbSITE

irOn prOjeCt

153 PrOyeK terInteGrASI

Informasi Bagi

nIKeL DAn StAInLeSS SteeL SuLAweSI tenGGArA

Pemegang Saham

SOutHeaSt SulaweSi

Antam Shareholders

integrated niCKel and StainleSS Steel prOjeCt

168 KOnDISI PASAr MARKET OVERVIEw

154 PrOyeK terInteGrASI nIKeL DAn StAInLeSS SteeL OBI

169 Obi integrated niCKel and SAhAM AntAM ANTAM’S SHARES StainleSS Steel prOjeCt

169 JuMLAh SAhAM DAn

154 ALIAnSI DenGAn BhP

KOMPOSISI PeMeGAnG

BILLItOn

SAhAM

allianCe witH bHp billitOn

TOTAL SHARES AND COMpOSITION OF

155 AKuISISI ASet BAuKSIt

SHAREHOLDERS

aCQuiSitiOn OF bauxite

hubungi Kami

aSSetS

171 KInerJA SAhAM

SHARE pERFORMANCE

Contact Us

156 renCAnA PenGAMBILALIhAn herALD reSOurCeS LtD. 173 KeBIJAKAn DIVIDen

284 PeJABAt SenIOr PerSerOAn CORpORATE SENIOR MANAGEMENT

Herald reSOurCeS ltd.

DIVIDEND pOLICy

taKeOVer plan

174 AKSI KOrPOrASI: PeMBeLIAn

156 BeLAnJA MODAL

KeMBALI SAhAM DI BurSA

286 INSTITUTIONS AND SUppORTING pROFESSIONALS

LeMBAGA DAn PrOFeSI PenunJAnG

Capital expenditureS

CORpORATE ACTION: ON

MARKET SHARE bUybACK

287 reFerenSI PerAturAn BAPePAM-LK nO. X.K.6 Perusahaan Patungan

CROSS REFERENCE TO bApEpAM-LK RULE x.K.6

dengan Kepemilikan

289 DAFtAr IStILAh GLOSSARy

Minoritas

Minority Stake joint Ventures

158 Pt GALuh CeMPAKA (AntAM 20%)

pt galuH CeMpaKa (ANTAM 20%)

158 Pt nuSA hALMAherA MInerALS (AntAM 17,5%)

pT NUSA HALMAHERA MINERALS

www.antam.com www.antam.com 2008 antaM annual report 2008 ANTAM Annual Report

Ikhtisar Keuangan

Financial Highlights

Sekilas Antam

Our Company

Kepada Pemegang Saham

dear Shareholder

Penjualan Bersih

Laba usaha

Laba Bersih

tata Kelola Antam

governance of antam

net Sales

Income from Operations

net Income

Sumber Daya Manusia

Our Human resource

Deskripsi tentang Antam

antam’s description

Laba sebelum Bunga, Pajak,

Analisis dan Diskusi

Manajemen

Depresiasi dan Amortisasi

Management analysis

and discussion

earnings Before Interest, tax,

Jumlah Kas

Jumlah hutang Bank

Manajemen

Depreciation and Amortization

total Cash

total Interest Bearing Debt

risiko

risk Management

eksplorasi dan Cadangan

exploration and reserves

Investasi untuk Menghadapi tantangan ke Depan

investment for Facing the Challenges

description %

penjualan bersih

Perusahaan Patungan dengan

net Sales

Harga pokok penjualan

Minoritas

Minority-Stake joint Cost of Sales

Ventures laba Kotor

gross profit 612.29

hubungan Investor

laba Sebelum bunga, pajak, investor relations

depresiasi dan amortisasi earnings before interest, tax,

Informasi

depreciation and amortization

Bagi Pemegang Saham

laba usaha antam Shareholder

(79) beban bunga

income from Operations

Kegiatan tanggung

interest expense

Jawab Sosial Antam

laba bersih Our Corporate Social

5,118.99 responsibility

net income 118.91

jumlah Saham beredar (‘000)

Outstanding Shares (‘000) –

laba bersih per Saham Financial report

Laporan

Keuangan

disesuaikan (rp)* adjusted net income per Share (rp)*

hubungi Kami

Contact us dividen per Saham disesuaikan (rp)* adjusted dividend per Share (rp)*

20.08 7.72 65.12 - - jumlah aktiva

total assets

(15) jumlah Kewajiban

total liabilities 598.01

jumlah Hutang jangka panjang total long term debt

(5) jumlah ekuitas

total Stockholder’s equity 8,750.10 (8) Modal Kerja bersih

(18) *penyesuaian jumlah saham setelah pemecahan saham pada tahun 2007.

net working Capital

*Share adjustments following stock split in 2007. Catatan: • dalam miliar rupiah kecuali jumlah saham beredar, laba bersih per saham, dividen per saham dan rasio.

• notasi angka dalam ikhtisar Keuangan ini dalam inggris. note: • billion rupiah, except outstanding shares, net income per share, dividend per share and ratios.

• all figures in this Financial Highlights are in english notation.

laporan tahunan antaM 2008 laporan tahunan antaM 2008

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Imbal hasil

Imbal hasil rata-rata Investasi

Imbal hasil

rata-rata ekuitas return on

rata-rata Aktiva

return on Average Investment

return on

Average Assets

Average equities

rasio total Kewajiban rasio Lancar

rasio total Kewajiban

terhadap Aktiva Current ratio

terhadap ekuitas

total Liabilities to equity ratio

total Liabilities to Assets ratio

imbal Hasil rata-rata investasi

81.99% (78) imbal Hasil rata-rata ekuitas

return on average investment 27.10%

return on average equities

78.56% 16.27% (79) imbal Hasil rata-rata aktiva

52.95% 12.28% (77) rasio lancar

return on average assets

Current ratio

801.65% 81 rasio total Kewajiban

terhadap ekuitas total liabilities to equity

rasio total Kewajiban terhadap aktiva total liabilities to assets

20.80% Marjin laba Kotor

gross Margin

(55) Marjin laba usaha

Operating Margin

15.16% Marjin laba bersih

(67) Kas dari Hasil Operasi

net Margin 6.85%

Operating Cashflow

(76) belanja Modal**

Capital expenditure ** 98.82 90.11 85.61 197.16 arus Kas bebas

(82) nilai tukar (rp/uS$)

Free Cashflow 76.29 726.66

5 Harga nikel (uS$/lb)***

exchange rate (rp/uS$)

nickel price (uS$/lb)*** 2.71 6.28 6.70 10.96 16.82 9.55 Harga emas (uS$/t.oz)***

697.09 872.25 25 ** untuk perolehan aktiva tetap.

gold price (uS$/t.oz)*** 278.87

*** Harga spot rata-rata harian dalam satu tahun. ** Fixed assets.

*** annual average of daily Spot price.

www.antam.com www.antam.com 2008 antaM annual report 2008 antaM annual report 5 5

Sekilas Antam

Our Company

Kepada Pemegang Saham

dear Shareholder

tata Kelola Antam

governance of antam

Sumber Daya Manusia

Our Human resource

Deskripsi tentang Antam

antam’s description

Analisis dan Diskusi Manajemen

Management analysis and discussion

Manajemen risiko

risk Management

eksplorasi dan Cadangan

Berfokus pada penghematan biaya dan diversifikasi

exploration and reserves

komoditas untuk tetap dapat memberikan imbal

Investasi untuk

Menghadapi tantangan ke Depan

hasil yang baik

investment for Facing

the Challenges

Focusing on cost reduction and product diversification

Perusahaan Patungan dengan Kepemilikan

to continue in delivering solid returns

Minoritas

Minority-Stake joint Ventures

hubungan Investor

investor relations

Informasi Bagi Pemegang Saham

antam Shareholder

Kegiatan tanggung Jawab Sosial Antam

Our Corporate Social responsibility

Laporan Keuangan

Financial report

hubungi Kami

Contact us

6 laporan tahunan antaM 2008

www.antam.com

Visi 2010 dan Misi

Vision 2010 and Mission

Vision 2010 Vision 2010

Menjadi

pertambangan berstandar internasional yang memiliki keunggulan kompetitif di pasar global. To be a mining company of international standards with a competitive advantage in the global market.

perusahaan

Misi Mission

• Menghasilkan produk-produk berkualitas tinggi, yaitu nikel, emas dan mineral lain, dengan mengutamakan keselamatan dan kesehatan kerja serta memperhatikan kelestarian lingkungan. To provide high quality nickel, gold and industrial minerals with the utmost concern for safety, health and environmental conservation.

• Beroperasi secara efisien (berbiaya rendah). To operate in the most efficient manner (low cost operations).

• Memaksimalkan shareholders dan stakeholders value. To maximize shareholder and stakeholder value.

• Meningkatkan kesejahteraan karyawan.

To enhance employees’ welfare. • Berpartisipasi di dalam upaya menyejahterakan

masyarakat di sekitar daerah operasi pertambangan. To participate in efforts to improve the social welfare of communities in the vicinity of the mining areas.

www.antam.com 2008 antaM annual report 7

Identitas Perusahaan

Corporate identity

Sekilas Antam

nama Perusahaan Company’s name

Our Company

perusahaan perseroan (persero) pt aneka tambang tbk disingkat pt antam tbk

Kepada Pemegang

perusahaan perseroan (persero) pt aneka tambang tbk abbreviated pt antam tbk

Saham

dear Shareholder

berkedudukan di jakarta domiciled in jakarta

tata Kelola Antam

governance of antam

Pembentukan Founded

5 juli 1968 july 5, 1968

Sumber Daya Manusia

Our Human resource

Modal Dasar Authorized Capital

Deskripsi tentang Antam

antam’s description

Modal Ditempatkan dan Disetor Issued and Fully Paid Capital

Analisis dan Diskusi

Manajemen

Management analysis

and discussion

Manajemen

Kepemilikan Ownership

risiko

risk Management

pemerintah republik indonesia 65% government of the republic of indonesia 65%

eksplorasi

dan Cadangan

exploration and reserves

Bidang usaha Line of Business

antam merupakan perusahaan pertambangan dan pengolahan mineral terdiversifikasi indonesia yang terkemuka.

Investasi untuk

Menghadapi tantangan ke Depan

dengan kegiatan yang terintegrasi secara vertikal, antam bergerak dalam bidang usaha pertambangan berbagai

investment for Facing the Challenges

jenis bahan galian serta menjalankan usaha bidang industri, perdagangan, pengangkutan dan jasa yang berkaitan dengan pertambangan berbagai jenis bahan galian tersebut.

Perusahaan Patungan dengan Kepemilikan

a leading indonesian diversified mining and minerals processing company, antam’s businesses are vertically

Minoritas

Minority-Stake joint

intergrated from exploration and mining through to processing, marketing, trading and services related to mining

Ventures

of the diversified minerals.

hubungan Investor

investor relations

hubungi Kami Contact us

Informasi Bagi Pemegang

pt antam tbk

Saham

gedung aneka tambang jl. letjen tb Simatupang no. 1, lingkar Selatan, tanjung barat

antam Shareholder

Kegiatan tanggung Jawab Sosial Antam

Our Corporate Social

indonesia

responsibility

Laporan Keuangan

Financial report

e-mail: corsec@antam.com

hubungi Kami

Contact us

untuk informasi lebih lanjut silakan kunjungi situs www.antam.com. Dalam situs tersebut Anda juga dapat bergabung dalam layanan distribusi berita melalui e-mail, Antam newsAlerts.

For more information please visit our website www.antam.com. you can also join our e-mail distribution list, antam newsalerts, from our website.

SAnGKALAn DAn BAtASAn tAnGGunG JAwAB:

laporan ini berisi pernyataan-pernyataan yang dapat dianggap sebagai perdagangan masa depan (forward looking statements) sehingga hasil-hasil nyata perusahaan, pelaksanaan atau pencapaian-pencapaiannya dapat berbeda dari hasil yang diperoleh melalui pandangan masa depan (forward looking statements) yang antara lain merupakan hasil dari perubahan-perubahan ekonomi dan politik baik nasional maupun regional, perubahan nilai tukar valuta asing, perubahan harga dan permintaan dan penawaran pasar komoditas, perubahan kompetisi perusahaan, perubahan undang-undang atau peraturan dan prinsip-prinsip akuntansi, kebijakan-kebijakan dan pedoman-pedoman serta perubahan asumsi-asumsi yang digunakan dalam membuat pandangan masa depan (forward looking statements).

DISCLAIMER:

This report contains certain statements that may be considered “forward-looking statements”, the Company’s actual results, performance or achievements could differ materially from those projected in the forward-looking statements as a result, among other factors, of changes in general, national or regional economic and political conditions, changes in foreign exchange rates, changes in the prices and supply and demand on the commodity markets, changes in the size and nature of the Company’s competition, changes in legislation or regulations and accounting principles, policies and guidelines and changes in the assumptions used in making such forward-looking statements.

8 laporan tahunan antaM 2008

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Struktur Organisasi

Organization Structure

DewAn KOMISArIS

board of Commissioners

• KOMIte GOOD CORPORATE GOVERNANCE good Corporate governance Committee • KOMIte AuDIt audit Committee

DIreKtur utAMA

• KOMIte MAnAJeMen rISIKO risk Management Committee

President Director

• KOMIte nOMInASI, reMunerASI DAn PenGeMBAnGAn SDM

nomination, remuneration and Human resources development Committee

• KOMIte CORPORATE SOCIAL RESPONSIBILITY, LInGKunGAn DAn PASCA tAMBAnG

Corporate Social responsibility, environment and post Mining Committee

DIreKSI Board of Directors

SeKretArIS DewAn KOMISArIS

Secretary to the board of Commissioners

SuMBer DAyA

uMuM DAn COrPOrAte SOCIAL

Human resources

general affairs and

director

Corporate Social responsibility director

SVP uBP SVP uBP VP uBP VP uBPP

VP

• SM OperatiOnS

• SM aCCOunting &

COrpOrate niCKel

SVp ubp nIKeL SVp ubp eMAS

BAuKSIt Vp ubp

MuLIA LOGAM

unIt GeOMIn

ManageMent

budgeting

• SM Mineral reSOurCeS

• SM OrganizatiOn

• SM COrpOrate SOCial

• SM legal &

COMplianCe internal SVp SVp

• SM prOgraM audit SeCretary Mulia lOgaM

gOld bauxite Vp ubpp

Vp geOMin

unit

• SM Supply

CHain ManageMent

• SM treaSury &

ManageMent OFFiCe

• SM

• SM COrpOrate FinanCe

deVelOpMent teCHnOlOgy

• SM HuMan

ManageMent reSOurCeS

aFFairS & general external

• SM riSK

enVirOnMent ClOSure and Mine

• SM inFOrMatiOn

• SM learning &

tOKyO repreSentatiVe

StrategiC COrpOrate

• SM MarKeting &

deVelOpMent

CuStOMer SuppOrt

unIt-unIt BISnIS

KAntOr PuSAt

Business units

head Office

Keterangan Notes SVP : Senior Vice President VP

: Vice President SM : Senior Manager UBP : Unit Bisnis Pertambangan Mining Business Unit UBPP : Unit Bisnis Pengolahan dan Pemurnian Processing and Refinery Business Unit

www.antam.com 2008 antaM annual report 9

Anak Perusahaan dan Perusahaan Afiliasi

Subsidiaries and affiliated Companies

Sekilas Antam

Our Company

Kepada Pemegang Saham

dear Shareholder

tata Kelola Antam

governance of antam

Sumber Daya Manusia

PEMERINTAH INDONESIA

Our Human resource

Government of

tentang Antam

antam’s description

Analisis dan Diskusi Manajemen

Management analysis

and discussion

Manajemen risiko

risk Management

eksplorasi dan Cadangan

exploration and reserves

Investasi untuk Menghadapi tantangan ke Depan

Antam

investment for Facing the Challenges

Perusahaan Patungan dengan Kepemilikan Minoritas

Minority-Stake joint Ventures

hubungan Investor

investor relations

Informasi Bagi Pemegang Saham

antam Shareholder

Kegiatan tanggung

Jawab Sosial Antam

Asia Pacific PT Antam

Our Corporate Social

PT Indonesia Nickel Pty. Ltd.

responsibility

PT Antam

PT Borneo Edo

PT Mega Citra

Chemical Stainless

Alumina Indonesia

Financial report

(Indonesia) (Indonesia)

hubungi Kami

Contact us

Industri Pengolahan

Investasi

dan operator

perdagangan,

perdagangan,

alumina dan stainless steel

jasa kontraktor

pertanian dan

pertanian dan

pertambangan

of stainless steel

exploration and

industry and PT Gag Nikel

trading, industry,

trading, industry,

general mining (Indonesia)

agriculture and

agriculture and

mining

mining

contractor services

Eksplorasi dan operator tambang

Mining exploration and operator

10 laporan tahunan antaM 2008

www.antam.com

Searah jarum jam dari atas:

Clockwise from top:

Karyawan di pabrik feronikel Pomalaa

employee at pomalaa ferronickel smelter

hasil dari tanaman reklamasi di Pomalaa

Fruits from reclamation plant at pomalaa

Nickel pour di pabrik

feronikel di Pomalaa

nickel pour at ferronickel plant at pomalaa

Lorong di dalam tambang emas bawah tanah Pongkor

tunnel at pongkor underground gold mine

www.antam.com 2008 antaM annual report 11

Peristiwa Penting 2008

Significant events 2008

Sekilas Antam

Our Company

Kepada Pemegang Saham

dear Shareholder

tata Kelola Perusahaan

governance of antam

Sumber Daya Manusia

Our Human resource

23 Mei May

Deskripsi tentang Antam

antam’s description

antam dan jindal menandatangani joint venture agreement untuk membangun

Analisis dan Diskusi Manajemen

fasilitas peleburan nikel dan stainless steel

Financial review

di Sulawesi tenggara. antam and jindal sign a joint venture

Manajemen

agreement to develop nickel smelting

risiko

and stainless steel facilities in South east Sulawesi.

risk Management

29 Januari dan Cadangan january

eksplorasi

antam dan Shenzhen zhongjin lingnan nonfemet Co.

exploration

and reserves

ltd. (zhongjin) mengumumkan penawaran bersama

Investasi untuk Menghadapi

Herald resources dengan membentuk special purpose

tantangan ke Depan

vehicle, tango Mining pte. ltd.

investment for Facing

the Challenges

antam and Shenzhen zhongjin lingnan nonfemet

Perusahaan Patungan dengan

recommended cash offer for Herald resources through

Kepemilikan

the formation of a special purpose vehicle, tango Mining

Minoritas

Minority-Stake joint

pte. ltd.

Ventures

hubungan Investor

investor relations

Informasi Bagi Pemegang Saham

antam Shareholder

Kegiatan tanggung Jawab Sosial Antam

17 Juni june

Our Corporate Social responsibility

antam memberikan bantuan pendidikan & program

Laporan

tambang emas pongkor.

Keuangan

Financial report

programs for the community surrounding the pongkor

hubungi Kami

gold mine.

Contact us

18 April april

17 Juni june

antam memperoleh persetujuan pemegang saham di dalam tango mengumumkan peningkatan penawaran untuk penawaran tango untuk Herald resources.

Herald resources menjadi au$2,80 per saham. antam receives shareholder approval for tango’s recommended

tango announces an increased cash offer of au$2.80 for cash offer for Herald resources.

Herald resources.

22 April april

18 Juni june

Krakatau Steel dan antam menandatangani perjanjian antam dan bHp billiton menandatangani perjanjian usaha patungan untuk proyek industri besi baja di

usaha patungan untuk mengembangkan deposit nikel Kalimantan Selatan.

di kawasan timur indonesia.

Krakatau Steel and antam sign a joint venture agreement to antam and bHp billiton sign a joint venture agreement develop the steel industry in South Kalimantan.

to develop nickel deposits in eastern indonesia.

12 12 laporan tahunan antaM 2008 laporan tahunan antaM 2008

www.antam.com www.antam.com

20 Juni june

tango mengumumkan bahwa penawaran untuk Herald resources bersifat unconditional. tango offer for Herald resources is declared unconditional.

22 September September

antam berhasil menyelesaikan aksi anarkis yang dilakukan

25 Juni penambang tanpa ijin di tambang emas pongkor. june

antam resolves vandalism by illegal miners at the pongkor antam menandatangani nota kesepahaman untuk memperoleh

gold mine.

sebagian saham di proyek emas dan perak Martabe. antam signs MOu to acquire interests in Martabe gold and silver project.

13 Oktober October

antam memulai program pembelian kembali saham

26 Juni melalui bursa. june

antam begins on market shares buyback program. pemegang saham antam mengangkat anggota dewan

Komisaris dan direksi yang baru serta menyetujui pembagian

13 november november

laba bersih tahun 2007. antam menerima pemberitahuan untuk pengakhiran kerjasama antam shareholders ratify the appointment of new members

pengembangan deposit nikel di kawasan timur indonesia. of the board of Commissioners and board of directors as well

antam receives notification to end the alliance to develop nickel deposits in eastern indonesia.

share from 2007 net profit.

15 Juli july

tango tidak memperpanjang penawaran atas Herald resources. tango does not extend cash offer for Herald resources.

7 Agustus august

Seiring dengan selesainya kesepakatan Cra dengan pt inco, antam mengumumkan bahwa perusahaan akan mengapalkan bijih nikel saprolit dari Maluku utara sebagai umpan pabrik feronikel di pomalaa. antam announces it will ship nickel ore from north Maluku mines for feronickel smelters in pomalaa as the Cra with pt inco had expired.

11 Agustus august

1 Desember december

antam menandatangani

antam melakukan aksi penanaman 500.000 pohon di (Memorandum of Understanding, MoU) dengan

nota

kesepahaman

seluruh unit bisnis.

pemerintah provinsi Sulawesi tenggara di bidang antam initiates a 500,000 trees planting program at its tanggung jawab sosial dan lingkungan (Corporate

business units.

Social Responsibility, CSR) dengan memberikan antam signs memorandum of understanding (Mou)

with the provincial government of Southeast Sulawesi to enhance the Corporate Social responsibility (CSr)

www.antam.com www.antam.com 2008 antaM annual report 2008 antaM annual report www.antam.com www.antam.com 2008 antaM annual report 2008 antaM annual report

Current Operations and development projects

Sekilas Antam

Our Company

Kepada Pemegang Saham

dear Shareholder

tata Kelola Antam

governance of antam

Sumber Daya Manusia

Our Human resource

Deskripsi tentang Antam

INDONESIA

antam’s description

Analisis dan Diskusi

Manajemen

Management analysis and discussion

Manajemen risiko

risk Management

eksplorasi dan Cadangan

exploration and reserves

Investasi untuk Menghadapi tantangan ke Depan

investment for Facing the Challenges

Perusahaan Patungan dengan Kepemilikan Minoritas

Minority-Stake joint Ventures

hubungan Investor

investor relations

Informasi

Bagi Pemegang Saham

antam Shareholder

KANTOR PUSAT

HEAD OFFICE

Kegiatan tanggung Jawab Sosial Antam

Aset Assets

Our Corporate Social responsibility

Rp4,914 triliun billion

Laporan

Penjualan Sales

Keuangan

Financial report

Karyawan** Employees**

hubungi Kami

Contact us

EMAS DAN PEMURNIAN

BAUKSIT DAN UNIT GEOMIN

nIKeL

GOLD AND REFINERY

BAUXITE AND GEOMIN UNIT

niCKel

Aset Assets

Aset Assets

Aset Assets

Rp871 miliar billion

Rp336 miliar billion

Rp4,124 triliun billion

Penjualan Sales

Penjualan Sales

Penjualan Sales

Rp2,925 triliun billion

Rp193 miliar billion

Rp6,473 triliun billion

Karyawan Employees

Karyawan Employees

Karyawan Employees

* Sudah beroperasi ** Termasuk pasca tambang Cikotok, Gebe dan Unit Pertambangan Pasir Besi

* Operational ** Includes post mining for Cikotok, Gebe and Iron Sands Mining Unit

laporan tahunan antaM 2008 laporan tahunan antaM 2008

www.antam.com www.antam.com

PROYEK-PROYEK PENGEMBANGAN ANTAM ANTAM'S DEVELOPMENT PROJECTS

Proyek-Proyek Pengembangan Strategis Proyek Patungan dengan Kepemilikan Minoritas

Strategic Development Projects

Minority Stake Joint Venture Projects

Nama Proyek

Kepemilikan

Komoditas

Nama Proyek

Kepemilikan Komoditas

Project Name

Ownership

Commodities

Project Name

Ownership

Commodities

1 tayan Chemical grade alumina (Cga)

Chemical Grade Alumina

1 pt Meratus jaya iron & Steel

Sponge Iron

2 PT Cibaliung Sumberdaya

Emas Gold pltu pomalaa

Emas Gold

2 pt nusa Halmahera Minerals*

Emas Gold Feni Halmahera dan pt gag nikel

PLTU Coal Fired Power Plant

pt Sorikmas Mining

Nikel Nickel 5 Mempawah Smelter grade alumina

Nikel Nickel

pt weda bay nickel

Smelter Grade Alumina

5 pt dairi prima Mineral

Timbal dan seng Lead and Zinc

6 pt galuh Cempaka

Intan Diamond

LOKASI DAN DAERAH OPERASI (100% ANTAM) LOCATION AND OPERATIONS AREA (100% ANTAM)

1 Tambang Bauksit Bauxite Mine

Kijang

2 Unit Geomin Geomin Unit

Jakarta

Pemurnian Logam Mulia Precious Metal Refinery

Jakarta

Tambang Emas dan Pabrik Gold Mine and Factory

Pongkor

5 Tambang Nikel dan Peleburan Nickel Mine and Smelters

Pomalaa

6 Tambang Nikel Nickel Mines

Tanjung Buli, Mornopo, Gee

www.antam.com www.antam.com

2008 antaM annual report 2008 antaM annual report

Sertifikasi

Certification

Sekilas Antam

Our Company

Kepada Pemegang Saham

dear Shareholder

tata Kelola Antam

Sertifikasi Quality Management System-ISO 9001: 2000 (SGS International)

governance of antam

untuk proses pengolahan feronikel dan kegiatan pendukung yang

diperoleh sejak 17 Mei 2002 (upgrading dari versi ISO 9002:1994 yang

Sumber

Daya Manusia

Our Human resource

diperoleh sejak 3 April 1996).

Deskripsi tentang Antam

Quality Management System Certificate-ISO 9001:2000 (SGS International) for ferronickel processing and supporting activities, obtained on May 17,

antam’s description

Analisis dan Diskusi Manajemen

2002 (upgrade from ISO 9002:1994 version, obtained on April 3, 1996).

Management analysis

and discussion

Manajemen risiko

risk Management

eksplorasi dan Cadangan

Sertifikasi Enviromental Management System-ISO 14001:2004 (SGS

exploration and reserves

International) untuk kegiatan penambangan, pengolahan feronikel, serta

kegiatan pendukung yang diperoleh sejak tahun 2006 (upgrading dari

Investasi untuk

Menghadapi tantangan ke Depan

versi ISO 14001: 1996 yang diperoleh sejak tahun 2001).

investment for Facing the Challenges

Environmental Management System Certification-ISO 14001:2004

Perusahaan

Patungan dengan Kepemilikan

(SGS International) for mining, ferronickel processing and supporting

Minoritas

activities, obtained in 2006 (upgrade from ISO 14001:1996 version

Minority-Stake joint

Ventures

obtained in 2001).

hubungan Investor

investor relations

Informasi Bagi Pemegang Saham

Sertifikasi REACH (Registration, Evaluation, Authorisation and Restriction of Chemicals) yang diperoleh tanggal 23 November 2008 untuk memenuhi

antam Shareholder

Kegiatan tanggung Jawab Sosial

regulasi pasar Uni Eropa mengenai penggunaan bahan kimia yang aman

Antam

Our Corporate Social

dalam siklus pengolahan feronikel.

responsibility

Laporan Keuangan

REACH (Registration, Evaluation, Authorisation and Restriction of Chemicals)

Financial report

Certification obtained in November 23, 2008 to fulfill the European Union

hubungi Kami

regulation on safe use of chemical substance in ferronickel processing cycle.

Contact us

Sertifikasi Quality Management System-ISO 9001: 2000 (SAI Global) untuk penambangan dan proses pengolahan emas di Pongkor yang diperoleh sejak 3 Maret 2000.

Quality Management System Certification-ISO 9001:2000 (SAI Global) for gold mining and processing at Pongkor, obtained on March 3, 2000.

16 laporan tahunan antaM 2008

www.antam.com

Sertifikasi Quality Management System-ISO 9001:2000 (TUV) untuk seluruh aktifitas proses di Unit Bisnis Pengolahan dan Pemurnian Logam Mulia yang diperoleh sejak tahun 2004.

Quality Management System Certification-ISO 9001:2000 (TUV) for all processing activities at Logam Mulia Processing and Refiney Business Unit, obtained in 2004.

Sertifikasi Enviromental Management System-ISO 14001:2004 (TUV) untuk seluruh aktifitas proses di Unit Bisnis Pengolahan dan Pemurnian Logam Mulia yang diperoleh sejak tahun 2004.

Environmental Management System Certification-ISO 14001:2004 (TUV) for all processing activities at Logam Mulia Processing and Refinery Business Unit, obtained in 2004.

Sertifikasi Enviromental Management System-ISO 14001:2004 (SAI Global) untuk penambangan dan proses pengolahan emas di Pongkor yang diperoleh sejak 18 September 2002.

Environmental Management Systems Certification-ISO 14001:2004 (SAI Global) for gold mining and processing at Pongkor, obtained on September

Sertifikasi Occupational, Health and Safety Management System-OHSAS 18000 (SAI Global) untuk penambangan dan proses pengolahan emas di Pongkor yang diperoleh sejak tanggal 15 Oktober 2008 .

Occupational, Health and Safety Management Systems Certification- OHSAS 18000 (SAI Global) for gold mining and processing at Pongkor, obtained on October 15, 2008.

www.antam.com 2008 antaM annual report 17

Sekilas Antam

Our Company

Mendapat Akreditasi Laboratorium Penguji sesuai standar ISO 17025 yang

Kepada

Pemegang Saham

dikeluarkan oleh KAN (Komite Akreditasi Nasional) untuk analisa emas,

dear Shareholder

perak serta campuran emas, perak dan platinum di Unit Bisnis Pengolahan

tata Kelola Antam

dan Pemurnian Logam Mulia yang diperoleh sejak bulan Juni 2003.

governance

of antam

Sumber Daya Manusia

Testing Laboratory Accreditation in accordance to ISO 17025, issued by

Our Human resource

National Accreditation Committee (KAN) for gold, silver, gold and silver

Deskripsi

mixture and platinum analysis at Logam Mulia Processing and Refinery

tentang Antam

antam’s description

Services, obtained in June 2003.

Analisis dan Diskusi Manajemen

Management analysis and discussion

Manajemen risiko

Akreditasi dari London Bullion Market Association (LBMA) setelah

risk Management

melewati prosedur pengujian produk oleh LBMA sejak tanggal 1 Januari

eksplorasi

1999. Tujuannya supaya emas balok produksi Unit Bisnis Pengolahan &

dan Cadangan

exploration and reserves

Pemurnian Logam Mulia dapat diperjual-belikan secara bebas di pasar International LBMA tanpa mengubah identitas LM.

Investasi untuk Menghadapi tantangan ke Depan

investment for Facing

Accreditation from London Bullion Market Association (LBMA). The

the Challenges

accreditation was obtained after Logam Mulia underwent product testing

Perusahaan Patungan dengan

procedures by LBMA. The accreditation was obtained on January 1, 1999. The

Kepemilikan Minoritas

accreditation certifies Logam Mulia’s gold bars to be traded freely at the LBMA’s

Minority-Stake joint Ventures

international market without any modification to Logam Mulia’s identity.

hubungan Investor

investor relations

Informasi Bagi Pemegang Saham

Sertifikasi dari Dubai Metal and Commodities Centre untuk produk emas

antam Shareholder

jenis small bar Logam Mulia yang diperoleh sejak Agustus 2005. Tujuannya

Kegiatan tanggung Jawab Sosial

supaya emas balok produksi Unit Bisnis Pengolahan & Pemurnian Logam

Antam

Mulia dapat diperjual-belikan secara bebas di pasar Timur Tengah tanpa

Our Corporate Social

responsibility

mengubah identitas LM.

Laporan Keuangan

Financial report

Certification from Dubai Metal and Commodities Centre for Logam Mulia’s

hubungi Kami

small gold bar, obtained in August 2005. The accreditation certifies Logam Mulia’s gold bars to be traded freely at the Middle East market without any modification to Logam Mulia’s identity.

Contact us

Sertifikasi Quality Management System-ISO 9001:2000 (TUV) untuk seluruh kegiatan eksplorasi beserta aktifitas pendukung di Unit Geomin, diperoleh sejak 28 Oktober 2005.

Quality Management System Certification-ISO 9001:2000 (TUV) for all exploration and supporting activities at Geomin Unit, obtained on October

18 laporan tahunan antaM 2008

www.antam.com

Penghargaan dan Pengakuan eksternal

external accolades and recognition

penghargaan perusahaan terpercaya dalam Corporate governance perception index, 2008 trusted Company recognition during Corporate governance perception index, 2008

penghargaan best badan usaha Milik negara Sektor pertambangan 2008 dari majalah investor 2008 best State-owned enterprise in Mining sector from investor Magazine

penghargaan investment award dari badan Koordinasi penanaman Modal (bKpM) investment award recognition from the indonesia investment Coordinating board

penghargaan 10 besar perusahaan idaman 2008 dari Majalah warta ekonomi top 10 dream Company 2008 recognition from warta ekonomi magazine

penghargaan best Sustainability report dalam indonesia Sustainability report award (iSra) 2007 best Sustainability report during indonesia Sustainability report award (iSra) 2007

peringkat 2 kategori buMn non Keuangan listed dalam annual report award 2007 ranked 2nd in the category of listed non-Finance State-owned enterprise during annual report award 2007

penghargaan program penilaian peringkat Kinerja perusahaan (prOper) Hijau untuk ubp emas pongkor green rating in Corporate environmental performance recognition for pongkor gold Mining business unit

penghargaan program penilaian peringkat Kinerja perusahaan (prOper) biru Minus untuk ubp nikel pomalaa blue minus rating in Corporate environmental performance recognition for pomalaa nickel Mining business unit

penghargaan dari league of american professional (laCp) Vision awards annual report Competition untuk annual report 2007: league of american Communication professionals (laCp) Vision awards annual report Competition for 2007 annual report:

• peringkat 1 (platinum) untuk kategori basic Materials basic Materials ranked 1st (platinum recognition) in basic Materials category • peringkat 1 (platinum) untuk kategori best report narrative best report narrative ranked 1st (platinum recognition) in best report narrative category

penghargaan asia’s best Companies 2008 dari majalah Financeasia: asia’s best Companies 2008 recognition from Financeasia magazine: • best Managed Company (peringkat 5) (ranked 5th) • best Corporate governance (peringkat 2) (ranked 2nd)

penghargaan best performance listed Company 2008 dalam investor awards best performance listed Company 2008 during investor awards

penghargaan top 50 reports in annual reports on annual reports 2007 dari e.com top 50 reports in annual reports on annual reports 2007 recognition from e.com

penghargaan the best Corporate governance practices dalam kategori Small/Mid Cap di asia/pacific berdasarkan Kriteria teknis dari ir global rankings 2007 the best Corporate governance practices in Small/Mid Cap category in asia/pacific based on technical Criteria from ir global rankings 2007

penghargaan Company with the best Corporate image kategori non Oil & gas Mining dalam indonesia Most admired Companies awards 2008 Company with the best Corporate image in non Oil & gas Mining category during indonesia Most admired Companies awards 2008

the gold award pada international Convention on Quality Control Circles (iCQCC) 2008 di dhaka, bangladesh the gold award during the international Convention on Quality Control Circles (iCQCC) 2008, dhaka, bangladesh

www.antam.com 2008 antaM annual report 19

laporan tahunan antaM 2008 20 laporan tahunan antaM 2008

Sekilas Antam

Our Company

Kepada Pemegang Saham

dear Shareholder

tata Kelola Antam

governance of antam

Sumber Daya Manusia

Our Human resource

Deskripsi tentang Antam

antam’s description

Analisis dan Diskusi Manajemen

Management analysis and discussion

Manajemen risiko

risk Management

eksplorasi dan Cadangan

exploration and reserves

Investasi untuk Menghadapi tantangan ke Depan

investment for Facing the Challenges

Perusahaan Patungan dengan Kepemilikan Minoritas

Minority-Stake joint Ventures

hubungan Investor

investor relations

Informasi Bagi Pemegang Saham

antam Shareholder

Kegiatan tanggung Jawab Sosial Antam

Our Corporate Social responsibility

Laporan Keuangan

Financial report

hubungi Kami

Contact us

Pemegang Saham yang terhormat, dalam tahun 2008 antam menghadapi berbagai macam

tantangan, diantaranya kenaikan harga bbM yang sangat melonjak walaupun terjadi penurunan menjelang akhir tahun 2008. Hal ini menyebabkan cash cost produk feronikel yang merupakan produk andalan antam makin naik. Masalah lain yang lebih berat yakni penurunan harga nikel dunia yang cukup drastis pada kuartal akhir tahun hingga di bawah harga pokok produksi. tantangan ini diperparah lagi oleh krisis global yang memaksa perusahaan-perusahaan baja di berbagai negara mengurangi produksinya sehingga penjualan bijih nikel maupun feronikel mengalami kelesuan. agak berbeda dengan nikel, harga emas masih jauh lebih baik, namun kontribusinya relatif kecil. tidak terelakan lagi, laba perusahaan mengalami penurunan.

Selain itu, kondisi lingkungan eksternal perusahaan belum menunjukkan adanya perbaikan, ditandai antara lain oleh anjloknya harga saham dunia akibat krisis global yang sangat berimbas kuat terhadap penurunan harga saham perseroan. di sisi lain, krisis global ini mengakibatkan beberapa kerjasama yang sudah dijajaki bertahun-tahun akhirnya dibatalkan oleh investor asing.

Dear Shareholders,

Antam faced numerous challenges in 2008 including the significant increase in the international price of oil, which raised the cost of ferronickel, the company’s main commodity. Although the international price of oil reduced at the end of 2008, Antam continued to face greater challenges. In the last quarter of 2008, the international nickel price decreased significantly, to be below its production costs. The global economic crisis also resulted in a slump in the sales of Antam’s nickel ore and ferronickel as major stainless steel producers reduced their production levels. In contrast to nickel, Antam’s other main commodity, gold performed better. However, despite gold’s stronger performance, revenue from it is relatively small. As a result, Antam’s profit in 2008 decreased substantially.

Antam’s share price was also impacted by the weak performance of external conditions such as the plunge in global share prices. The global crisis also led to several of Antam’s joint development projects being cancelled by

Laporan Dewan Komisaris

report from the board of Commissioners

“Dalam tahun 2008 Antam menghadapi berbagai macam tantangan, diantaranya kenaikan harga BBM yang sangat melonjak, penurunan harga nikel dunia yang cukup drastis dan adanya krisis global.”

“In 2008, Antam faced numerous challenges such as, the significant increase of oil price, a sharp decrease of nickel price as well as the global crisis.”

Semua kondisi yang kurang kondusif di atas mengakibatkan international partners. These conditions are Antam’s major timbulnya tantangan bagi antam. Meski begitu, dewan

challenges. Nonetheless, we are optimistic that the Board Komisaris mengharapkan agar jajaran direksi dan karyawan

of Directors as well as Antam’s employees will continue to tetap berupaya keras untuk menghadapi seluruh tantangan

work hard to face these challenges, to increase Antam’s ini dengan berpegang pada prinsip untuk meningkatkan

competitiveness level and to sustain its operations. daya saing demi kelangsungan hidup perusahaan.

We fully support management’s cost reduction efforts upaya dari manajemen yang mendapat dukungan dewan

Komisaris adalah program pengurangan biaya yang to maintain the company’s competitive advantage in mencakup seluruh unit bisnis dan jenis kegiatannya agar

the global market. We believe that Antam must focus on dapat mempertahankan posisi perusahaan untuk tetap

improving efficiency and productivity in order to increase memiliki keunggulan kompetitif di pasar global. dewan

its profitability.

Komisaris berkeyakinan bahwa antam harus berfokus pada usaha peningkatan efisiensi dan produktifitas yang

Besides efficiency measures, we also support the bermuara pada peningkatan perolehan laba.

development and growth initiatives such as acquisition and commodity diversification to secure Antam’s future.

di samping usaha-usaha efisiensi, dewan Komisaris Acquisition of gold mines must be prioritised to increase mendukung

Antam’s depleting gold reserves. Diversification to coal is untuk kelangsungan kegiatan perusahaan di masa yang

necessary to support Antam’s ferronickel smelters as well as akan datang baik berupa akuisisi maupun diversifikasi the development of a coal fired power plant. We also urge komoditas. akuisisi tambang emas mendesak dilakukan

untuk penambahan cadangan emas. Sedangkan the acceleration of the development of the Tayan Chemical diversifikasi ke komoditas batubara juga perlu dipersiapkan

Grade Alumina (CGA) project to increase the company’s sebagai pasokan untuk pabrik feronikel dan untuk

added value.

www.antam.com 2008 antaM annual report 21

laporan tahunan antaM 2008 22 laporan tahunan antaM 2008

Sekilas Antam

Our Company

Kepada Pemegang Saham

dear Shareholder

tata Kelola Antam

governance of antam

Sumber Daya Manusia

Our Human resource

Deskripsi tentang Antam

antam’s description

Analisis dan Diskusi Manajemen

Management analysis and discussion

Manajemen risiko

risk Management

eksplorasi dan Cadangan

exploration and reserves

Investasi untuk Menghadapi tantangan ke Depan

investment for Facing the Challenges

Perusahaan Patungan dengan Kepemilikan Minoritas

Minority-Stake joint Ventures

hubungan Investor

investor relations

Informasi Bagi Pemegang Saham

antam Shareholder

Kegiatan tanggung Jawab Sosial Antam

Our Corporate Social responsibility

Laporan Keuangan

Financial report

hubungi Kami

Contact us

“Pada ruPS bulan Juni 2008, telah diangkat tiga anggota Dewan Komisaris dan lima anggota Direksi yang baru.”

”during the annual general Meeting of Shareholders in june 2008, antam’s shareholders appointed three new members to the board of Commissioners and five new members to the board of directors.”

We urge the Board of Directors to immediately implement the energy alternatives scheme and develop the coal fired power plant to supply the energy needs of Antam’s ferronickel smelters.

Besides improving its financial performance and preparing strategic projects for the future, we also realise that Antam still faces several challenges, such as the implementation of good corporate governance, competency improvement of its human resources, risk management as well as corporate social responsibility.

During the Annual General Meeting of Shareholders in June 2008, Antam’s shareholders appointed three new members to the Board of Commissioners and five

new members to the Board of Directors. In turn, the new Board of Commissioners appointed nine new members to Commissioner- level committees to replace committee members who had completed their terms. As part of the implementation of GCG, Antam

conducted induction programs for the new members of the Boards and committees. Antam expects the induction program will give a better understanding of the company to the new members. In 2008, the Board of Commissioners advised the formulation of the company’s

Disclosure Policy and Securities Trading Policy. Both these policies are essential to ensure the company’s credibility and to increase the trust of shareholders and stakeholders. As a public company, Antam also has implemented a new whistleblowing policy, which is managed by the Board of Commissioners.

In anticipation of Antam’s future growth and development, together with the company’s highly competent human resources, we expect the Board of Directors to complete the Performance-based Management Systems, Remuneration Management System, Competency Standard and the implementation of learning and assessment programs.

calon pltu di pomalaa. Selain itu, untuk mempercepat realisasi proyek seperti Chemical grade alumina (Cga), dewan Komisaris mendorong proyek ini supaya segera direalisasikan sehingga dapat menghasilkan nilai tambah bagi perusahaan.