Antam eyes mining projects abandoned by foreign firms

State owned general mining company PT Aneka Tambang (Antam) has expressed interest in taking over mining projects, which have been abandoned by some foreign mining companies, Bisnis Indonesia reported Friday

Antam?s president D. Aditya Sumanegara said in Jakarta on Wednesday that the publicly listed general mining company was currently assessing the possibility of taking over the four mine concessions formerly owned by Pelsart in Kasongan and Ampalit in Central Kalimantan, and Aurora Gold?s mine concession in Central Kalimantan and North Sulawesi.

He said that Antam would form a strategic alliance with other companies to acquire the abandoned the mining projects, which are located in Central Kalimantan and North Sulawesi.

However, earlier this week, Australian listed gold mining company Austindo Mining which is controlled by Tahija family announced that it had signed head of agreement with Aurora Gold to acquire the latter?s entire stake in North Sulawesi.

Several companies have abandoned their mine projects due to resentment from local residents. Some others have also quit their operations after the local government failed to halt the activities of illegal miners in their concession areas. (*)