Antam to Work On US$1.8 Billion Project

VIVAnews - PT Aneka Tambang Tbk (ANTM) is finding a strategic partner to run a nickel ore project in Halmahera, North Maluku valuing US$1.8 billion and it will be running until 2013. The company has finished a feasibility study on that project.

Aneka Tambang Director of Development Tato Miraza said that the company is still negotiating the ownership percentage on the Halmahera project. "Antam must [acquire] the majority," he said in Jakarta on Monday, April 27.

Miraza added that the company is still trying to seek out other alternative funding for the investment. However, capital market will not be an alternative considering the current crisis.

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Translated by: Ariyantri E. Tarman