CORRECTED-Australia's Herald declines to pick bid winner

(Corrects ownership of bid vehicles in paragraph 8) (Adds background, quote)

PERTH, June 27 (Reuters) - Australian-listed miner Herald Resources Ltd (HER.AX) declined on Friday to pick a winner from two rival bidders for the company, advising shareholders to make up their own mind on which offer to accept.

Indonesia's PT Bumi Resources (BUMI.JK) and a joint venture between Indonesia's PT Aneka Tambang Tbk (ANTM.JK) and China's Shenzhen Zhongjin Lingnan Nonfemet Co Ltd 000060.SZ have each bid A$2.80 per share in cash, valuing Herald at A$554 million ($530 million).

Herald said the takeover process should be concluded as soon as possible and that its shareholders should accept one of the two offers in the absence of a higher offer.

"From an economic viewpoint, we see no advantage in either offer over the other for the Herald shareholders and hence we do not propose to make a single offer recommendation," Herald Chairman Terrence Allen said in a statement.

Shares in Herald closed up 0.34 percent at A$2.91, indicating that investors were expecting a higher bid.

Bumi has built up a 19.86 percent interest in Herald, while the Antam joint venture owns a 19.29 percent stake, Herald said.

Allen said that if both offers were to close unchanged, Herald's other minority shareholders would be confronted with an uncertain future in terms of the market price and liquidity of their Herald

Bumi made a bid through an investment vehicle called Calipso Investment Pte Ltd, while the Antam partnership made a bid through Tango Mining Pte Ltd.