Bloomberg reported that PT Aneka Tambang may be hard to complete the planned USD 66.5 million purchase of a stake in a gold and silver mine owned by OZ Minerals Ltd as banks stop lending.

The report quoted Mr Alwin Syah Loebis president director of PT Aneka Tambang as saying that "I don’t think anyone will support us financially in this condition It is going to be hard to go through with the purchase, which was announced in June.”

He said that companies worldwide are reviewing expansion plans as the global credit crisis chokes off lending, threatening economic growth.”

Antam had planned to borrow USD 42.2 million, to expand its gold mining business by buying the 10% stake in the Martabe gold and silver mine run by Oz Minerals.

Money market rates in Asia’s biggest financial centers have raised to their highest in at least nine months even after Hong Kong and China lowered borrowing costs.