Inco says ore processing talks with Antam terminated
Tuesday, May 25 2010 - 04:04 AM WIB
IDX-listed nickel miner PT Inco Tbk said it had decided not to resume nickel ore processing deal with IDX-listed state miner PT Aneka Tambang Tbk (Antam).
?We have decided not to resume processing deal with Antam and instead will pursue JV opportunity to set up a nickel processing plant in Pomalaa,? CEO Tony Wenas said on Monday.
Antam used to get ore supplies from INCO following the signing of the Cooperative Resources Agreement (CRA) by both firms in 2005. Under the agreement, Antam buys 1 million tons of nickel ore from INCO per year to be processed the firm?s smelter in Pomalaa, South East Sulawesi.
In 2008, however, Antam stopped buying the ore for undisclosed reasons.
In late 2009, Antam said that it and Inco was in talks to resume ore processing deal.(bernard)