Antam, Inco to sign joint venture agreement this week
Tuesday, September 17 2002 - 10:54 AM WIB
State mining company PT Aneka Tambang Tbk (Antam) and nickel miner PT International Nickel Indonesia Tbk (Inco) sign an agreement this week to form a joint venture for nickel reserve development and nickel processing, Antam president director Dedi Aditya Sumanagara said on Tuesday.
?We will sign the agreement this week,? Dedi told reporters. He did not mention the exact date however.
The agreement will allow Antam and Inco to develop nickel reserves and to supply Antam?s processing facility with saprolite ore from Inco?s Pomalaa deposit.
The Pomalaa nickel prospect is too costly to be developed by Inco because the location is too far from its smelter in Soroako, South Sulawesi. The mining site is close to Antam?s nickel smelting plant.
Antam and Inco are publicly listed companies. Antam is 85 percent owned by the Indonesian companies, while Inco is a subsidiary of Canadian mining giant Inco Limited. (godang)