Indonesian Political, Business & Finance News

Australia halts exploration

Australia halts exploration

MANADO, N. Sulawesi (Antara): A joint gold exploration project carried out by Indonesian and Australian companies in Minahasa district has been stopped as a result of the deteriorating ties between the two countries.

PT Tambang Tondano Nusa Jaya (TTNJ) and PT Mearest Soputan Mining (MSM) stopped gold exploration activities in a 300,000- hectare area in Likupang and Dimembe subdistricts as of Sept. 20, said a local Ministry of Mines and Energy spokesman M V. Malonda.

Malonda said on Monday the exploration suspension was due to political problems between Australia and Indonesia over the East Timor issue.

MSM staff member W. Kamagi said all workers from the company, including expatriates, had been laid off since Sept. 18.

The two companies have explored gold deposits in Minahasa since December 1997.

View JSON | Print