Firms to explore for gold in Aceh<\/p>\n
JAKARTA (JP): Six foreign mining companies have submitted
\ncontract proposals to the government to explore for and extract
\ngold in various areas of Aceh.<\/p>\n
\"The companies have already obtained licenses for preliminary
\nstudies from the directorate general of mines. And they have
\ncompleted their studies,\" the chief of Aceh's mines and energy
\noffice, Mahbub Iskandar, was quoted by Antara as saying
\nyesterday.<\/p>\n
\"Those foreign companies are interested in exploring for gold
\nin those areas because their studies show that there are gold
\ndeposits,\" Mahbub added. The areas of interest total 1,857
\nhectares.<\/p>\n
He said the companies also expect to maintain a major stake --
\nup to 80 percent -- in the proposed exploration projects, while
\nlocal partners might take only 20 percent.<\/p>\n
He said that the foreign companies appointed Indonesian
\ncompanies as their partners before applying for the contracts.<\/p>\n
The foreign companies are East Kalimantan Coal PTE LTD of
\nSingapore (with PT Arlian Karyamaska as its local partner),
\nPhelps Dodge Exploration Corporation of the United States (with
\nPT Tambang Timah), Barrick Indonesia LTD of Canada (with Quralon
\nPTE. LTD of the Mutiara Group and PT Mutiara Mitramin), Lansdowne
\nHolding SV of Holland (with PT Askatindo Karya Mineral),
\nHighlands Gold PTY LTD of Papua New Guinea (with PT Marhauma
\nSubur) and Minorca Resources LTD of Canada (with PT Askatindo
\nKarya Mineral).<\/p>\n
Mahbub said that the provincial administration has also
\ndelivered the proposals for the contracts to the House of
\nRepresentatives for deliberation.<\/p>\n
Under current procedure, each contract can only be awarded to
\na company following Presidential approval based on the House's
\nrecommendation. (alo)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/firms-to-explore-for-gold-in-aceh-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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