Antam: May Buy Stake In BHP Billiton's Indonesian Coal Assets
October 08 2009 - 2:12AM
Dow Jones News
State-owned nickel and gold mining company PT Aneka Tambang
(ANTM.JK) is considering acquiring a stake in BHP Billiton Ltd.'s
(BHP) Indonesian coal assets as part of its plan to buy a coal
project as early as this year, an executive at Antam, as the
company is known, said Thursday.
Djaja Tambunan, Antam's finance director, told Dow Jones
Newswires the company is considering offers from BHP Billiton to
buy its local coal assets or partner it in developing them. He
didn't indicate how large a stake Antam might seek.
BHP Billiton has said it is considering selling all or part of
the Maruwai metallurgical coal project in Central and East
Kalimantan. The company earlier this year dropped a plan to spend
about $100 million developing the Haju trial mine at Maruwai.
A spokesperson at BHP Billiton in Australia declined to comment
directly on Antam's comment, saying only that the company
"continues to review (its) commercial options" with regard to
Maruwai, including selling all or part of the project.
Tambunan said Antam is also looking at other coal assets in
Kalimantan and Sulawesi provinces.
-By Linda Silaen, Dow Jones Newswires; 62 21 3983 1277;
Reuben.Carder@dowjones.com