Antam says planned cooperation with Inco still being discussed

The publicly-listed state-owned general mining company PT Aneka Tambang (Antam) confirmed that it was planning to team up with the publicly-listed nickel mining company PT Inco to develop nickel resources in East Pomalaa, South Sulawesi.

The company, however, said in a press statement issued Thursday that the planned venture was still being discussed and the company could not yet provide detail information. Antam said that it holds a nickel mining contract for East Pomalaa area.

"How the long term cooperation will benefit both parties is still under negotiation," Antam said, adding that the company had not yet decided where the funding for the cooperation will come and how much.

Antam made the press statement in response to earlier reports that the company was planning to team up with Inco to develop nickel resources in East Pomalaa area.(R. Amoros)