（July 21 2014）State-owned miner PT Aneka Tambang (Antam) says that the total investment value of the FerroNickel (FeNi) processing plant project in Buli, East Halmahera, North Maluku, could reach US$800 million to $1 billion.

In January, Antam and Australian Direct Nickel Pty Ltd. (DNi) announced their cooperation on building a FeNi processing plant that would have the capacity to produce 10,000 to 20,000 tons of nickel concentrate each year.

Antam finance director Djaja M. Tambunan told kontan.co.id that DNi would finance most of the project. “[Antam] will probably only finance 15 percent of the project’s total investment value as our share in the project is small,” he said.

Currently, the project remains in the feasibility study phase, which has been targeted to finish in early 2015. Djaja denied to disclose when the plant would start to be built. “It is up to DNi. They are the one who are searching for the funds,” he said.

• [Editor:Juan]