Antam to tie up with BHP and Falconbridge in Gag island
Monday, August 28 2000 - 04:00 AM WIB
State owned general mining company PT Aneka Tambang (Antam) will cooperate with two world's mining giants, BHP of Australia, and Falconbridge Ltd., in developing its nickel mine project in Gag island, Irian Jaya, the company's president has said.
Antam's president Dedy Aditya Sumanagara said in Jakarta Saturday that the cooperation with two mining giants would create a strong synergy in the development of the company's nickel mining area on the island.
The nickel mining project would benefit from the worldwide marketing network owned by BHP while Falconbridge, the world's second largest nickel producer, would provide the technology for the development of the nickel mining project, Dedy told BRD reporter.
He said that Antam, which listed on the Jakarta Stock Exchange, would have 25 percent ownership in the Gag island-based mining project, while its partners BHP and Falconbridge would have 37.5 percent respectively. Deddy said that the mine project, with nickel deposits of about 200 million tons, is now under a feasibility study. (*)