April 14, 2016 / 11:02 AM / in 2 years

Indonesia may create state mining firm, considers M&A -Antam executive

JAKARTA, April 14 (Reuters) - The Indonesian state enterprises ministry may set up a state-owned mining holding company that could buy foreign-owned shares in mining firms, the senior executive of a state miner said on Thursday.

PT Aneka Tambang Tbk (Antam) and PT Inalum may join other state miners to form a holding company, Antam President Director Tedy Badrujaman told reporters.

A separate Indonesian group, including prominent businessman Arifin Panigoro, has offered to buy a controlling stake in Newmont Mining Corp’s local operations in a deal that industry insiders have said could reach $2 billion.

“Actually Newmont is not the only one that is attractive,” Badrujaman said. “All the foreign-owned shares related to the core business of Antam and state miners, we can take, be it a gold or nickel company.” (Reporting by Wilda Asmarini; Writing by Eveline Danubrata. Editing by Jane Merriman)

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