JAKARTA -- Indonesia finally began formal moves to merge four state-owned mining companies under one giant holding company, in order to allow it to take over large-scale concessions -- including one of the world's largest copper mines operated by U.S.-based Freeport-McMoRan.
State-owned nickel producer Aneka Tambang (known as Antam) and tin miner Timah reported in separate stock exchange filings on Wednesday that a new government regulation has been issued to formalize the long-planned policy. These are their first filings referring to the plans to form a holding company structure.
