Malaysia's MMC eyes Antam's bauxite project
Saturday, March 13 2004 - 03:22 AM WIB
Malaysia Mining Corp Bhd (MMC) has offered cooperation with state-owned PT Aneka Tambang (Antam) to develop Tayan bauxite mine, in West Kalimantan.
Industry sources told the newspaper Bisnis Indonesia that MMC is one of foreign investors eyeing the the alumina project.
The two Japanese companies Showa Denko and Marubeni Corp. have already agreed to finance the project and establish a joint venture with Antam to run it.
The Alumina Tayan bauxite project is estimated to cost US$220 million.
Antam has asked for government approval to issue new shares valued at US$31 million to help finance the project.(*)