Antam, Inco to sign agreement on Sulawesi project early next month
Tuesday, January 28 2003 - 12:04 PM WIB
State mining firm PT. Aneka Tambang Tbk and Sulawesi-based nickel miner PT International Nickel Indonesia Tbk (Inco) will sign an agreement early next month to jointly develop the latter?s 7,000 hectares of nickel concession area in Pomalaa, Southeast Sulawesi, an industry source told Petromindo.Com Tuesday.
The accord signing ceremony will take place during a three-day oil and mining conference to be opened in Bali on February 1, the source said.
Earlier reports said that under the agreement publicly listed Antam will buy Inco?s nickel ore produced from its Pomalaa concession area, and that Antam?s third nickel smelter FeNi III in Southeast Sulawesi will process the ore. FeNi III project was planned for completion in 2005 or 2006.
Inco?s main nickel operation is located in Soroako, South Sulawesi.
The company, listed on the Jakarta Stock Exchange, is majority owned by Toronto based mining company Inco Limited. (godang)