EV Project Positive

EV Project Positive PT Aneka Tambang Tbk (ANTM) or Antam is focus on finalizing cooperation agreements with strategic partners for the development of electric vehicle (EV) battery projects. DCFX Futures Analyst Lukman Leong said this collaboration would be very positive for Antam if. However, this impact cannot felt immediately in the near future.

“Currently, industrial metal commodity prices will still be pressur by the global economic slowdown next year due to the aggressive attitude of the world’s central banks,” explained Lukman. Even so, according to him, Antam is still worthy of being collect by investors because the current price of ANTM is still reasonable to buy. Lukman said Antam has a huge upside potential.

ANTM’s increase in shares could have been earlier than expected. Until the end of the year, I estimate the price of ANTM in the range of Rp. 2,250 – Rp. 2,350. Next year it can reach IDR 3,000,” predicts Lukman. Even so, Lukman reminded commodity companies to be careful until the end of the year because there are still demands. However, conditions will improve in the third quarter of 2023.

“I see that commodity companies (besides energy) will still be on the defensive until at least Q2 2023. ANTM shares can start to rise in mid-2023,” concluded Lukman. Currently, Antam is focusing on finalizing cooperation agreements with strategic partners. After the agreement is complet, aspects of Environmental, Social, and Governance (ESG) management and project funding will then be agre upon with the partners.

As  known. This MIND ID Mining Industry Holding member  one of the shareholders of PT Indonesia Battery Industry.  Indonesia Battery Corporation (IBC). Which found with other state-own companies namely PT Pertamina (Persero). And PT PLN (Persero) in the first quarter of 2021. . Antam will play a direct role on the upstream side of the EV Battery project. While on the downstream side it will be carri out through IBC.

This is because IBC was entrust with focusing on the integrated management of the electric motor vehicle battery industry ecosystem from upstream to downstream to maximize the potential of mineral resources in Indonesia.