Indonesian state mining firm Antam and Anglo-Australian giant BHP Billiton agreed Thursday to a massive joint nickel mining venture in eastern Indonesia, Antam said.The venture would be split 50-50 between BHP and the Indonesian company, Antam said in a statement, adding the agreement still needed to be finalised by BHP's board before coming into effect.
Indonesia's Investment Coordinating Board earlier this year announced the joint venture between the two countries would involve the creation of nickel mines and refineries in the provinces of Maluku and West Papua.
The board estimated the value of the venture at 2.5 billion dollars.
Source: Antara | 19 June 2008
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