Bisnis.com, JAKARTA — As the government slashed nickel output quota to 260–270 million tons this year, prices of the key metal used in battery have been climbing steadily. The question now is how the policy shift will shape the outlook for listed nickel miners such as INCO, ANTM, MDKA, and their peers.

The 2026 nickel production quota under the Work Plan and Budget (RKAB) has been set at 260–270 million tons, sharply lower than the 379 million tons approved for 2025.

Bisnis.com, JAKARTA — The majority of securities firms have assigned a positive outlook to shares of copper mining companies, following higher Export Reference Price (HPE) for copper concentrate in February 2026.

Higher HPE for copper concentrate also serves as a positive catalyst for several copper-related mining stocks, including PT Amman Mineral Internasional Tbk. (AMMN), PT Merdeka Copper Gold Tbk. (MDKA), and PT Aneka Tambang Tbk. (ANTM).

Bisnis.com, JAKARTA — Profit-taking has rippled through gold mining stocks, including PT Aneka Tambang Tbk. (ANTM). The question now is how heavyweight investors such as BlackRock and its peers have positioned themselves in Antam shares throughout this month.

ANTM stocks fell 4.34% to Rp4,410 per share on the Indonesia Stock Exchange (IDX), Wednesday (1/28/2026). Even so, the stock has still delivered a year-to-date (YtD) gain of 40.63%.

Bisnis.com, JAKARTA — The outlook for nickel mining stocks—including INCO, NCKL, ANTM, and MBMA—hangs in limbo as uncertainty clouds the approval of the 2026 Work Plan and Budget (RKAB) for the mineral mining industry.

Prolonged delays in issuing RKAB approvals for several mining companies are expected to weigh on domestic sales as well as export volumes, with nickel among the affected commodities.

Bisnis.com, JAKARTA — Shares of nickel producers are extending their gains on Wednesday (1/7/2026), underscoring sustained investor appetite for the sector.

Bloomberg data show PT Vale Indonesia Tbk (INCO) surging 12.44% to Rp6,325 per share, while PT Aneka Tambang Tbk (ANTM) jumped 11.59% to Rp3,850 per share.

Bisnis.com, JAKARTA — The surge in global gold prices, which once again surpassing the US$4,000 per troy ounce mark, has reignited optimism across Indonesia’s gold mining sector.

The rally has not only brightened earnings prospects but also boosted the share prices of key players, from state-owned miner Aneka Tambang (ANTM) to private producers like Merdeka Copper Gold (MDKA), Hartadinata Abadi (HRTA), and Archi Indonesia (ARCI), part of Peter Sondakh’s Rajawali Group.

Bisnis.com, JAKARTA — Amid a bearish trend in gold prices over the past week, major investors have sparked a buying spree in shares of PT Aneka Tambang Tbk. (ANTM), or Antam.

The renewed interest comes as ANTM’s stock has been under pressure in recent weeks. As of Monday (27/10/2025) at 3:30 p.m., the stock edged up 0.32% to IDR 3,140 per share, trimming its monthly decline to 2.49%. Year-to-date, ANTM remains one of the market’s top performers with a gain of 105.90%.