Global famed miner BHP Billiton is rumored to approach newly listed gold, copper, and bauxite miner PT Bumi Resources Minerals Tbk (BRMS).
A source as quoted by Bisnis Indonesia today said BHP Billiton is considering to buy stakes of Bumi Minerals at PT Gorontalo Minerals.
"BHP Billiton was unable to obtain permission for years. After Bumi Minerals receive the exploration license, it approaches Bumi Minerals for possible take over," the source said.
Bumi Minerals acquired 80% holding in Gorontalo Minerals from International Minerals Company. Gorontalo Minerals manages exploration license on 36,070 hectares concession in North Sulawesi.
Disclosure: No position at the stock mentioned above.
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