Try to open gold mine

JAKARTA (JP): Vice President Try Sutrisno is scheduled to dedicate a US$170.2 million gold mine, which is operated by PT. Newmont Minahasa Raya of the U.S., in North Sulawesi, next month.

"The gold mine is part of the projects worth $383 million, which are scheduled to be inaugurated by the vice president in the province," North Sulawesi Governor EE. Mangindaan said here yesterday after meeting the vice president.

He said that Newmont's property had a reserve of two million ounces of gold. But he suggested that the reserve could increase as the government would allow the company to explore for more gold outside its current concession.

He said that the company would be also allowed to buy gold from the local panners at the price set by the government. (bnt)