Global miner BHP Billiton
The two companies have agreed to jointly study development of nickel deposits in the areas around Buli in North Maluku.
Antam said last year that these areas had an estimated 57 million wet metric tonnes of high-grade nickel ore reserves and 79 million wet metric tonnes of high-grade nickel ore resources.
Nickel prices have seen a steep decline in 2008, down 13 percent from the start of the year as stainless steel makers, which consume around two-thirds of the world's nickel, scaled back purchases in light of slowing demand for their products. (Reporting by Mark Bendeich; editing by Jonathan Standing)
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