Herald Resources looks for partner to explore Belitung tin deposit
Wednesday, July 31 2002 - 04:08 AM WIB
Australian mining company Herald Resources Limited is currently looking for a partner to fund drilling and metallurgical test work programme at its Batu Besi tin prospect, where significant resources of tin with accompanying fluorite, magnetite and copper have been demonstrated, the company said in its quarterly report released Wednesday.
Herald has a co-operation agreement with PT Tambang Timah, the major Indonesian tin producer, to explore and develop hard-rock tin deposits in two tenements of about 40,000 ha on Belitung Island in Bangka Belitung province. Herald has 100 percent stake at the project, while Timah has 3-5 percent royalty.
Herald said it had held discussion with several groups. (alex)