Arc obtains new forestry permit for Trenggalek IUP
Wednesday, January 29 2014 - 03:41 AM WIB
By Ruli Setiawan
ASX-listed gold miner Arc Exploration announced Wednesday that the Indonesian Ministry of Forestry has granted an extension of the so-called Borrow and Use Forestry Permit for its Trenggalek IUP tenement in East Java.
The company said in a statement that the permit is valid until November 3, 2015.
?This allows the company to conduct exploration work on several targets in production forestry areas within the tenement,? Arc said.
The company has a joint venture with PT Sumber Mineral Nusantara, which holds the Trenggalek Exploration IUP license covering an area of 30,044 ha (~300 km2) in the Southern Mountains of East Java.
Editing by Reiner Simanjuntak