Antam seeks new partner to develop Kalimantan alumina project

IDX-listed state miner PT Aneka Tambang Tbk (Antam) said it might scrap JV plan with UC RUSAL, the world?s largest aluminium and alumina producer, to develop an alumina project in West Kalimantan as the latter showed no sign of interest to forward the project.

Corporate Secretary Bimo Budi Satriyo said the HoA signed with RUSAL would expire in 2010, but RUSAL not even undertaken FS on the project,? he said.

Bimo said the company is in the process of seeking other partners to develop the project, but hinted that it might not be easy to find interested companies amid low commodity price.

Antam and RUSAL signed the HoA in 2007. Under the HoA, both companies will explore possibilities to develop bauxite deposits and build a smelter grade alumina processing plant in West Kalimantan. Following the outcome of a feasibility study, the proposed project may process 3.6 million wmt of washed bauxite per year into 1.2 million tonnes of smelter grade alumina per year. (bernard)