Antam completes BFS on Tayan Alumina project
Friday, January 30 2004 - 07:14 AM WIB
The company said in its quarterly report sent to The Australian Stock Exchange that the BFS was completed by Japan?s Mizuho Bank on Dec. 22, 2003. It did not provide further details, only saying that ?Antam continued to work towards structuring an appropriate financing for this project?.
The BFS is necessary for Antam to be able to raise financing to exploit its huge bauxite deposit in Tayan. Production at Tayan is expected to be 850,000 tons of bauxite ore annually, which would yield 300,000 tons of chemical-grade alumina. Alumina is the raw material for producing aluminium.
Antam is reportedly in talks over a possible joint venture with two Japanese investors. Tayan project's development cost is estimated to be around US$180 million. (alex)