Antam to go ahead with FeNi IV project

President director of Jakarta-listed mining concern PT Aneka Tambang (Antam) Alwinsyah Loebis said on Thursday the company would proceed with plans to develop the FeNi IV smelting project with or without a partner.

Alwinsyah told Petromindo.com that the FeNi IV project was considered as a strategic one for the company that would create an added value for the company's mining output as requested by the government.

?Many (potential partners) have been talking with us (on possible partnership in the project). So far, none have succeeded (in reaching a deal),? he said.

He said that Antam was looking for a partner that has ncecessary capital, adding that Antam has secured the necessary technology, which is similar with the one applied in the FeNi I, FeNi II, and FeNi III smelters.

Alwinsyah said that Antam would only give a maximum of 20 percent stake in the FeNi IV project to the partner.

He added that total investment required for the project was about US$1.4 billion, not $1.8 billion as previously reported. (denny)