BHP to team up with Antam in Gag's nickel venture

Australian resources company BHP Co, Ltd will team up with state-owned general miner PT Aneka Tambang (Antam) to develop nickel deposits on the island of Gag, off Irian Jaya, an official said.

Director General for General Mining Surna Tjahjadiningrat said BHP leaders had told him about the plan and were enthusiastic about the tie-up with Antam.

Surna said, BHP told him that it was set to carry out the plan despite the prevailing situation that had scared many foreign investors away from the country.

BHP has already held a working contract from the government to develop the nickel deposit on the island of Gag and it has concluded two years of explorations in that area, Surna said without going into details about investment value and the magnitude of the reserve.

He said BHP and Antam would sign a cooperation agreement this week. (*)