ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Indonesia begins consolidation of state-owned miners

Holding company structure will help government take over Freeport mine

Workers enter a gold mine, operated by state miner Aneka Tambang at Cibaliung in Banten Province, Indonesia.   © Reuters

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.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more