Newcrest spends US$40.4m for exploration<\/p>\n
JAKARTA (JP): The Indonesian subsidiaries of Australia's
\nNewcrest Mining Ltd. has spent US$40.4 million to survey and
\nexplore gold resources across the country, a company official
\nsaid over the weekend.<\/p>\n
The project manager of PT Newcrest Nusa Sulawesi (NNS), Paul
\nD., said the company had been actively exploring gold resources
\nin the country for six years but so far, no production had been
\nmade.<\/p>\n
Paul made the remarks in a meeting to explain NNS's activities
\nto North Sulawesi governor E.E. Mangindaan in the provincial town
\nof Gorontalo.<\/p>\n
Paul was quoted by Antara as saying that Newcrest had
\ncontracts of works (COWs) to develop gold resources in West
\nSumatra, Sumbawa of West Nusa Tenggara, North and Central
\nSulawesi, Halmahera and Maluku.<\/p>\n
The COWs for the development of gold resources in West
\nSumatra, Sumbawa, Halmahera are part of 65 Sixth Generation COWs
\nsigned last April; while the contract to develop gold resources
\nin North Sulawesi and Central Sulawesi is part of seven Fifth
\nGeneration COWs awarded in 1994.<\/p>\n
The West Sumatra contract areas are being explored by PT
\nNewcrest Sumatra Minerals, a joint venture with PT Austindo
\nNusantara Jaya (ANJ) of the Tahija's family, which own 10 percent
\nstake.<\/p>\n
The Sumbawa resource is being explored by PT Newcrest Sumbawa
\nJaya, a joint venture with the Tahijas, who own 10 percent of the
\nshare.<\/p>\n
The Halmahera resource is being developed by PT Nusa Halmahera
\nMinerals, a joint venture with the publicly listed state mining
\ncompany PT Aneka Tambang, which has a 10 percent stake.<\/p>\n
The North and Central Sulawesi contract area is 90 percent
\nowned by Newcrest and 10 percent by the Tahija family.<\/p>\n
Paul told the governor that Newcrest Nusa Sulawesi had been
\nexploring gold resource on 766,100 hectares in the Gorontalo and
\nBolaang Mongondow regencies, North Sulawesi and the Bual Toli-
\nToli regency, Central Sulawesi.<\/p>\n
He said the exploration could take three years and, if the
\nexploration was successful, the company could start feasibility
\nstudies and construction. Production was expected to start four
\nyears after the exploration is completed, he said. (jsk)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/newcrest-spends-us404m-for-exploration-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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