Astra hopes exploitation of new gold mine to start next year
Tuesday, November 17 2015 - 04:06 AM WIB
By Thomas Sembiring
IDX-listed auto giant PT Astra International Tbk said that its subsidiary heavy equipment and mining firm PT United Tractors Tbk (UT) is currently carrying out exploration work at its recently acquired gold concession in West Nusa Tenggara Province.
?It?s still at the exploration stage? Exploitation (hopefully) can start next year,? said Astra Director Djoko Pranoto on Monday.
UT through subsidiary PT Pamapersada Nusantara acquired in February of this year a 75.5 percent stake in gold mining firm PT Sumbawa Jutaraya, which operates gold mine in Sumbawa, for US$2.57 million.
Editing by Reiner Simanjuntak