Antam eyes Myanmar, the Philippines

By Brigida Ernestina Elu Wea

IDX-listed mining company PT Aneka Tambang Tbk (Antam) is eying Myanmar and the Philippines as part of overseas expansion drive.

Antam President Director Teddy Badrujaman said on Thursday that the company was seeking to form partnership with the local miners in the two countries and also set up a trading company in the initial phase of the expansion drive.

He said that the company was looking into gold mining potential in Myanmar, and nickel mining in the Philippines after the government of Indonesian banned the export of nickel ores in early 2014. ?We have made discussions with the local miners in the Philippines,? he said.

Teddy said that its cooperation with Newcrest for domestic gold mining exploration can be duplicated overseas. He did not provide further details about the expansion plans.

Elsewhere, Teddy said that Antam is also planning to team up with PT Smelting and PT Freeport Indonesia to set up an anode slime and precious metal refinery. Antam hopes the joint venture company can be set up in the fourth quarter of this year.

Editing by Reiner Simanjuntak