Austindo Resources applies for new exploration lease
Friday, October 29 2004 - 12:55 AM WIB
Australian mining firm Austindo Resources Limited said Friday it had applied for new exploration area in Java.
The company did not reveal specific location but only saying that the application is currently being processed by the regulatory authorities.
The company also said it would continue to look for further opportunies to strengthen its presence in Indonesia.
Austindo is 83.75 percent owner of Cibaliung gold project in Banten province, which is planned to commence production in 2006 at annual production rate of 70,000 ounces gold equivalent. (alex)