Newcrest's RI gold study

Newcrest's RI gold study

MELBOURNE (Reuters): Newcrest Mining Ltd said yesterday it
expects an environmental impact and feasibility study on its high
grade Gosowong gold mine project in Indonesia to be submitted to
the government before the end of February 1998.

Newcrest has said it hopes to produce 150,000 ounces of gold
annually from the mine at an average cash cost of US$150 an
ounce.

"Newcrest is now able through its Indonesian subsidiary PT
Nusa Halmahera Minerals and its Indonesian partner, PT Aneka
Tambang to formally submit the Gosowong feasibility study and
environmental impact study," Newcrest said.

Acceptance of the studies and final board approval are the
last key steps necessary for development of the A$90 million
project, the company said.