Avocet may sell Papua gold project
Wednesday, July 11 2007 - 04:04 PM WIB
UK miner Avocet Mining Plc is considering to sell its stake in Papua gold exploration project.
?We are in discussions with a number of parties concerning the potential divestment of the Idenburg project in West Papua,? the company said in a report filed with the London Stock Exchange on Wednesday.
The company has 51 percent stake at PT. Iriana Mutiara Idenburg, which holds a 6th generation Contract of Work (CoW)in Papua province called Idenburg.
The CoW lies in a low mountain range some 120 kilometres to the south of the provincial capital of Jayapura, which is situated on the northern coast.(alex)