Newmont starts producing gold in North Sulawesi<\/p>\n
JAKARTA (JP): PT Newmont Minahasa Raya, an Indonesian-
\nAustralian joint venture, will soon start producing 100,000
\nounces of gold bullion per annum in Minahasa, North Sulawesi, the
\ncompany announced in Manado yesterday.<\/p>\n
\"After conducting explorations since 1986, we'll start
\nproducing gold,\" John AS Dow, the president of the foreign mining
\ncompany, said in Manado yesterday.<\/p>\n
With an investment which may reach US$2.5 billion, including
\nthat for infrastructure, the company plans to process about 2,000
\ntons of gold ore per day which will produce some 14,000 grams
\n(493.8 ounces) of gold. Processing the ore into 92 percent
\nbullion takes three days, he said.<\/p>\n
He noted that only PT Aneka Tambang's laboratory in Jakarta
\ncan process ore into 100 percent gold bullion.<\/p>\n
\"During the first year of operation, we will be able to
\nproduce some 100,000 ounces of gold. But in the second year, we
\nwill increase our output to 150,000 ounces,\" he was quoted by
\nAntara as saying.<\/p>\n
According to John Eltham, the company's general manager, the
\nmining site in Minahasa contains some 2.1 million ounces in gold
\nreserves that are estimated to be adequate to support 13 years of
\nproduction. Other small reserves have also been discovered around
\nthe mining site. (13)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/newmont-starts-producing-gold-in-north-sulawesi-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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