UPDATE 1-Indonesia's Antam mulls buying Freeport's local stake
(Adds details)
JAKARTA, Feb 15 (Reuters) - Indonesia's state mining company PT Aneka Tambang Tbk (Antam) (ANTM.JK: Quote, Profile, Research)(ATM.AX: Quote, Profile, Research), said it is considering buying up to 18.72 percent of PT Freeport Indonesia, the local unit of U.S. mining corp Freeport McMoRan Copper & Gold Inc (FCX.N: Quote, Profile, Research).
Antam said in a statement that it has received "verbal support" from Indonesia's state enterprises ministry to acquire the stake in PT Freeport Indonesia (PTFI), which owns and operates the giant Grasberg gold and copper mine in Papua.
It did not say how much the stake would be worth.
Antam said that Freeport is currently under no obligation to sell a 9.36 percent stake in PTFI. It added that it is also considering acquiring another 9.36 percent stake in PTFI currently held by the Indonesian government, with the possibility of eventually owning 18.72 percent.
"(Antam) has received the verbal support of Indonesia's Minister of State-Owned Enterprises, Sofyan Djalil, in making an acquisition of the 9.36 percent stake in Freeport Indonesia held by PT Indocopper Investama, should Antam wish to do so."
"We continue to look at all the opportunities to acquire gold assets in Indonesia as part of our gold acquisition plans, including the possibility of acquiring a stake in PT Freeport Indonesia, a possibility we have known about for many years," Antam's President Director, Dedi Aditya Sumanagara, said.
Last month, Antam and Chinese miner Shenzhen Zhongjin Nonfemet 000060.SZ launched a joint cash bid for A$504.8 million for Australia's Herald resources Ltd (HER.AX: Quote, Profile, Research). (Reporting by Harry Suhartono and Fitri Wulandari, editing by Sara Webb)
© Thomson Reuters 2008 All rights reserved.



