Antam seeks $200m of external funds
Monday, December 2 2013 - 12:54 AM WIB
IDX-listed mining firm PT Aneka Tambang (Antam) Tbk is seeking external funds worth US$200 million to help finance the expansion of its ferronickel plant in Pomalaa, Southeast Sulawesi, reports said Monday.
Antam President Director Tato Miraza was quoted as saying that the company was considering whether to issue global bonds or seek bank loans to raise the funds.
He was quoted by Investor Daily as saying that the Pomalaa project is expected to be able to increase the company annual ferronickel production to 27,000 tons from the current 18-20,000 tons.
The project, which has already entered expansion stage, cost about $573 million, and Antma is still short about $200 million, the paper said. (*)