Archipelago confident to bag environmental approval on gold mine next month
Tuesday, July 17 2007 - 04:57 PM WIB
UK miner Archipelago Resources expressed its confidence that it would be granted environmental approval from the government on Toka Tindung gold mine in North Sulawesi by the end of next month.
CEO Colin Loosemore said at the company’s Annual General Meeting that the mine is expected to operate in the second quarter of 2008.
The mine is targeted to produce 160,000 ounces of gold per year.
Lack of approval from Indonesian authorities has caused delays to the project. The North Sulawesi provincial government, backed by some NGOs have voiced opposition to the project, but Ministry of Energy and Mineral Resources backs the project. (alex)