Sample Stories for Troubled Company Reporter - Asia Pacific

ANEKA TAMBANG: Seeks US$70 Mil. in Loans, Bisnis Indonesia Says

Troubled Company Reporter, Feb. 28, 2007 

PT Aneka Tambang is seeking US$70 million in loans to help finance a chemical-grade alumina project, Bloomberg News reports, citing Bisnis Indonesia.

The Troubled Company Reporter - Asia Pacific reported on Jan. 31, 2007, that Aneka Tambang plans to invest between US$200 million and US$240 million to build an alumina mining facility in West Kalimantan.

The feasibility studies are expected to be complete next month and Aneka may start construction of the facility next year, Bloomberg News relates.

Aneka Tembang is reportedly in talks with PT Bank Mandiri to help finance the project.

PT Aneka Tambang Tbk -- -- mines, processes, develops, and explores natural deposits.  The company operates six mines.  They are located in Riau (bauxite), Sulawesi and Maluku (nickel), Central Java (iron sand), and West Java (gold).  The company also operates a precious metal refinery and a geology unit in Jakarta.

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The Troubled Company Reporter - Asia Pacific reported on Dec. 4, 2006, that Standard & Poor's Ratings Services raised its long-term corporate credit rating on Indonesian state-owned mining company PT Antam Tbk. to 'B+' from 'B'.  The outlook is stable.  At the same time, Standard & Poor's also raised to 'B+', from 'B', the rating on the senior unsecured notes issued by Antam Finance Ltd. and guaranteed by Antam.

Moody's Investors Service gave Aneka Tambang a local currency B1 corporate family rating, and a B2 foreign currency bond rating.

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