Aneka Tambang has long-term acquisition plan: report

State-owned mining firm PT Aneka Tambang is interested in acquiring mining companies in Papua New Guinea and Australia as part of its long-term strategy to ensure continued solid growth and earnings, President Director Dedi Aditya Sumanagara said Friday.

In an interview with Dow Jones Newswires, Dedi said Aneka Tambang, or Antam, will send a geologist to "have a look around" a Papua New Guinea mining company soon, and in return, the latter would send its representatives to Jakarta next month for further discussion.

Dedi said Antam would seriously consider an acquisition "as long as it's reasonable and in line with our core business, and we have sufficient money."

Antam would consider a rights or bonds issue if it decided to pursue the PNG acquisition, Dedi said. But he didn't reveal how much money his company would raise.

Dedi said Antam is also interested in Australia's Centaur Mining & Exploration Ltd., which was placed in receivership in March by its U.S. bondholders, who are owed US$225 million.

Centaur's projects include the Cawse laterite nickel project and Mount Pleasant gold mine in Western Australia.

Currently, Antam operates several gold and nickel mines in Indonesia.

Antam exports most of its nickel output to Japan, South Korea and Europe, and that accounts for 60% of its total revenues. The company also exports gold to Singapore and South Korea. (*)