Indonesia's Antam to finalize Herald bid in '08

JAKARTA (Reuters) - Indonesia's state-owned mining firm, PT Aneka Tambang Tbk (ANTM.JK), said on Wednesday it expected to finalize a bid for Australian miner Herald Resources Ltd HER.AX and acquire its gold assets this year.

Dedi Aditya Sumanegara, Antam's president director, said that an expected firm nickel price this year would help raise sufficient funds to finance its acquisition plans.

"Our strategy this year is to complete our M&A program," Nickel prices are likely to remain good this year which will help us to have strong cash," Sumanagara said at this week's Reuters Global Mining Summit.

Sumanagara said nickel prices may remain firm this year at around $14 per pound ($30,865 a tonne), although it would be lower than $16.2 per pound in 2007, on concern that global economic worries may dent demand from stainless steel makers.

(Reporting by Fitri Wulandari, Editing by Peter Blackburn)