Gold, tin reserves found in N. Sumatra<\/p>\n
Apriadi Gunawan, The Jakarta Post, Medan<\/p>\n
Two local mining companies have discovered gold, tin and zinc
\nreserves in North Sumatra province, a local government official
\nsaid on Monday.<\/p>\n
Head of the North Sumatra Mining Office Washington Tambunan
\nsaid PT Horas Nauli had found a 30 million cubic meters of gold
\nreserves in Batangtoru subdistrict, South Tapanuli regency, and
\nPT Dairi Prima Mineral had discovered 10 million cubic meters of
\ntin and zinc reserves in Dairi regency after seven years of
\nexploration.<\/p>\n
Horas Nauli and Dairi Prima had invested about US$10 million
\nand $5 million respectively during the exploration period, he
\nadded.<\/p>\n
\"They will proceed from the discoveries to production and will
\ninform us about their upcoming investment over the next two
\nmonths,\" he told The Jakarta Post on the sidelines of a hearing
\nwith the North Sumatra provincial legislative council.<\/p>\n
Both companies would jointly develop their respective reserves
\nwith leading international mining company Gold Grouf Asia Pacific
\nLtd.<\/p>\n
Meanwhile, Gold Grouf president Geoffren Gold said his company
\nwas still seeking an appropriate method to develop the reserves.<\/p>\n
\"It will take at least a year to realize the (production)
\nplan,\" he said.<\/p>\n
Under Law No. 25\/1999 on intergovernmental fiscal balance,
\nprovincial and regency administrations receive 80 percent of the
\ngovernment's revenue from mining resources in a particular
\nregion.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/gold-tin-reserves-found-in-n-sumatra-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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