Mining for a pot of gold

PT Antam to appoint a financial advisor this week to decide if it should acquire a minority stake in Freeport Indonesia.

State-owned mining company PT Aneka Tambang Antam says it plans this week to appoint an independent financial advisor to help it conduct due diligence into the potential acquisition of a minority stake in PT Freeport Indonesia.

Antam is considering acquiring the government's 9.36% stake in the US copper and gold mining company Freeport Indonesia, which some analysts say is valued at $700 million.

The value is one of the key points an advisor is expected to clarify for the company. The advisor would also recommend whether to make an investment and how best to fund it.

Antam will choose its financial adviser this...

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