Bloomberg Aneka Tambang in Talks for $325 Million of Loans for Expansion

March 24 (Bloomberg) -- PT Aneka Tambang, Indonesia's Second-largest
metal producer by market value, said it is in talks with banks to borrow
$325 million to expand alumina and gold production.
The state-owned company is talking to Japan Bank for International
Cooperation and other lenders, Alwin Loebis, president director of Aneka
Tambang, said in an interview with Bloomberg TV while attending a conference
in Singapore.
Aneka Tambang joins PT Bumi Resources in seeking to expand production
as global demand for commodities revive with the economic recovery. Profit
may return to 2008 levels, reversing a
56 percent decline last year, as the company boosts output of nickel, Loebis
said.
The company wants to expand its Cibaliung gold mine because bullion
price is "good," he said. It is also seeking to expand the Tayan alumina
project, he said.
The price of nickel may increase in the second half as demand gains, he
said. He affirmed an earlier production target of 18,500 metric tons this
year.
Aneka Tambang is "not keen" to buy a stake in Freeport- McMoRan Copper
& Gold Inc's Indonesian unit, Loebis said. Aneka Tambang and the Papua
provincial government may jointly buy a 9.36 percent stake in Freeport
Indonesia, the Investor Daily Indonesia reported Dec. 14, citing Loebis.
It may consider buying a stake in PT Indonesia Asahan Aluminium,
Indonesia's only smelter of the metal, he said.

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