Antam looking for advisor on gold mine acquisition plan

State-owned mining firm PT Aneka Tambang Tbk. (Antam) has invited four foreign investment banks to be selected as financial advisor for its plan to acquire several gold mines.

 

The four invited banks are Citigroup, Credit Suisse, HSBC Securities and Macquarie Securities. “They will assist Antam in preparing financial scheme for the acquisition plan,” an anonymous executive who was well informed about the plan was quoted by Bisnis Indonesia as saying.

 

Antam plans to acquire several gold mines to replace its gold mine in Pongkor, West Java, whose deposit is projected to run out in five years.

 

Antam’s corporate secretary Bimo Budi Satriyo confirmed that that the company was going to select foreign investment banks as financial advisor for its acquisition plan but he did not name the banks. (*)