Archi opens to acquisition opportunity

By Thomas Sembiring

IDX-listed mining firm PT Archi Indonesia Tbk said it is open to opportunity of acquiring new gold mine as long as it is feasible.

?If there?s good gold mine that we think is feasible (for acquisition), it?s possible,? said Archi President Commissioner Bambang Setiawan to Petromindo.com recently.

Bambang said that a gold mine is considered feasible if it possesses advanced reserves data, JORC certified. He added that the company is currently intensifying exploration activities to look for new deposits.

Archi, which has two subsidiaries operating gold mines in North Sulawesi, has set a gold output target of 200,000 oz this year, up from 150,000 oz last year.

Editing by Reiner Simanjuntak