Antam's diamond project may start production this year
Friday, January 26 2001 - 04:00 AM WIB
Publicly listed state owned mining company PT Aneka Tambang Tbk. (Antam) said its diamond mining project in South Kalimantan may start production this year.
The alluvial diamond-mining project, located in Banjar regency, is owned by PT Galuh Cempaka, which is a joint venture between Australian firm Ashton Mining Company (48 percent), Malaysian Mining Corporation (32 percent) and Antam (20 percent).
Anglo-Australian mining giant Rio Tinto has become a shareholder in Galuh Cempaka by taking over Ashton Mining in November 2000.
Antam's operation director Harsojo Dihardjo told Petromindo.com in an interview on Thursday that the project was currently at the trial production stage and the feasibility study was expected to be completed sometime this year.
Once the feasibility study was completed and the economics of the project was justified, production could start immediately, Harsojo said.
He said Galuh Cempaka had spent some US$ 20 million for the project. (*)