Antam teams up with Newcrest to find new gold resources

By Cepi Setiadi

IDX-listed mining firm PT Antam (Persero) Tbk stated that it will cooperate with ASX-listed gold mining firm Newcrest Mining Limited to conduct exploration activities to find new gold resources in Indonesia.

Agus Zamzam, Antam?s Operational Director told journalists on Tuesday that the exploration will be conducted in five locations in Indonesia.

?But for now, we cannot disclose the exact location, but surely one of the locations is located on Java Island,? he said. Agus revealed that the required investment for this activity is estimated at around US$2 million, which will be covered entirely by Newcrest.

?Hopefully with this program we will find new gold resources and reserves,? he said.

Editing by Reiner Simanjuntak