Antam increases stake at Kalimantan bauxite mine
Monday, January 4 2010 - 03:03 AM WIB
IDX-listed state miner PT Aneka Tambang Tbk (Antam) will increase its ownership at PT Borneo Edo International to 100 percent from 60 percent currently.
According to Borneo Edo?s website, the company is focusing to develop its bauxite mining areas in Mempawah Hulu, Mejalin, Mandor and Sompak District, West Kalimantan. Its area contains approximately 80 MT of bauxite deposits with average grade of 45% of Al2O3 and less than 3,5 % of Silica (Si2 O3).
An Antam Corporate Secretary staff told Petromindo.Com on Monday that Borneo Edo will supply bauxite for Antam?s proposed alumina project.
The company did not give detail about acquisition value. (denny)