Antam teams up with Newcrest to identify new gold prospects

By Romel S. Gurky

IDX-listed mining firm PT Aneka Tambang Tbk (Antam) said that it has agreed to cooperate with ASX-listed Newcrest Mining Limited (Newcrest) in the identification of opportunities and development of gold and associated minerals exploration in several new prospective areas in Indonesia.

?The areas covered in the agreement are West Java, East Java, South Sumatera, Nusa Tenggara, North Sulawesi, Halmahera and Maluku Islands,? Antam said in a statement Monday.

Antam?s President Director, Tedy Badrujaman said: ?Given gold commodity is one of our major commodities beside nickel and bauxite, the cooperation aims to secure new and promising gold prospects, resulting in increased gold portfolio and business expansion for Antam.?

Under the cooperation, Antam and Newcrest agree to share information related to the technical, economical, legal and commercial feasibility of the opportunities within the agreed area for further exploration and potential development and future mining of gold and associated minerals.

Editing by Reiner Simanjuntak