Placer, Newmont in talks<\/p>\n
TORONTO (Reuter): Placer Dome Inc said it is talks with
\nNewmont Gold Company over the Batu Hijau copper-gold find in
\nIndonesia.<\/p>\n
\"I can confirm we have been in discussions with Newmont,\" said
\nPlacer Dome spokesman Hugh Leggatt. \"They are still continuing
\nand I cannot say when they will be concluded.\"<\/p>\n
Newmont owns 80 percent of the lucrative property on the
\nIndonesian island of Sumbawa with the rest privately-held.<\/p>\n
\"We've been talking with both parties who own the property,\"
\nLeggatt said.<\/p>\n
Newmont Gold's parent, Newmont Mining, has said it expects the
\nproperty to come into production around the turn of the century.
\nA feasibility study has been recently concluded.<\/p>\n
While no production figures are available, the non-reserve
\nresource base of the property is expected to hold 14.7 million
\nounces of gold, 27.6 million ounces of silver and 11.2 billion
\npounds of copper.<\/p>\n
Newmont has said it is looking at how it will deal with the
\ncopper component of the production.<\/p>\n
A Newmont spokesman said the company's policy is not to
\ncomment on negotiations.<\/p>\n
Placer's 1994 production stood at 1.7 million ounces of gold
\nand 40.4 million pounds of copper. Production figures and
\nearnings for 1995 are expected to be released Feb. 22.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/placer-newmont-in-talks-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}