Austindo selects Aker Kvaerner to relocate gold processing plant

Australian mining firm Austindo Resources Corporation NL announced Tuesday it had awarded a contract for engineering services to Aker Kvaerner Australia Pty Ltd to relocate the Mount Olympus gold processing plant from Western Australia to its Cibaliung Gold Project in West Java.

Austindo said Aker Kvaerner would also engineer and procure additional equipment for addition to the plant required to process the ore.

The Cibaliung project is being developed by PT Cibaliung Sumberdaya ? a joint venture company in which Austindo is entitled to an 83.76 percent interest and the state-owned diversified miner PT Antam Tbk holds a 16.24 percent interest.

First gold production from Cibaliung is expected in the fourth quarter 2006. (Robert)