Antam seeks cooperation with Papua to buy Freeport's share

Sate owned listed mining company PT Aneka Tambang Tbk (Antam) is exploring the possibilities of cooperating with the Papua provincial government to buy a stake copper and gold miner PT Freeport Indonesia (PTFI).

PTFI, a subsidiary of American mining giant Freeport McMoRan Copper & Gold, operates the world's largest gold mine in Papua.

"There aren't yet any details of the cooperation. But, the management of Antam is keen to cooperate with the Papua government," Antam's Corporate Secretary Bumi Budi Satriyo said on Wednesday.

He also said the firm is exploring for copper and gold in several KP concessions owned by the firm in Papua. "There are still a lot of opportunities there," he said.

He did not specify the amount of PTFI's shares it is seeking to buy with the Papuan government. But, PTFI has offered to the Indonesian government to buy a 9.36 percent stake in PTFI owned by PT Indocopper Investama, which is controlled by Freeport. The Papua provincial government recently voiced interest to buy the stake. (Bernard).