Bumi and Antam Fighting Over Herald

BUMI Resources now faces strong competition in its hunt for shares in Herald Resources Ltd. Last week, PT Aneka Tambang Tbk put forward an acquisition offer for this mining company from Australia that owns zinc and lead mining concessions in Dairi, North Sumatra.

Antam, which is working together with the Chinese mining company, Shenzhen Zhongjin Lingnan Nonfemet Co Ltd, has put in an offer of A$504.8 million (Rp4.2 trillion) or A$2.50 per share. T

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