CITA spends Rp721.8 million for July exploration
Tuesday, August 13 2013 - 03:30 AM WIB
IDX-listed bauxite company PT Cita Mineral Investindo Tbk (CITA) spent Rp721.8 million for July exploration activities in Sandai, Ketapang Regency, West Kalimantan Province.
The exploration activities were conducted by subsidiaries PT Harita Prima Abadi Mineral (HPAM) and PT Karya Utama Tambangjaya (KUTJ).
Exploration by HPAM was held in the 19,280-hectare concession area owned by CITA subsidiary PT Sandai Inti Jaya Tambang (SIJT). HPAM used test pit drilling method with 98 drilled holes and took 515 samples. Based on data of the Geological Agency at Ministry of Energy and Mineral Resources (MEMR), there are 11,500,000 tons estimated resources of bauxite in Sandai, Nanga Tayap Subdistrict.
CITA said in a statement on Monday that it conducted literature studies by collecting previous data and geological mapping. CITA also did reconnaissance by taking and measuring samples from the outcrops and laboratory analysis to measure the bauxite quality.
Editing by Reiner Simanjuntak