Kingsrose hopes to resume activities at Talang Santo mine in February 2013
Wednesday, November 28 2012 - 01:55 AM WIB
Australia-listed mining company Kingsrose Mining Ltd said that its Talang Santo gold mine in South Sumatra is expected to resume full mining activities in February of 2013.
The company said in a statement received Wednesday that the Indonesian Ministry of Energy and Mineral Resources has advised Kingsrose 85 percent owned subsidiary PT Natarang Mining (PTNM) of the steps it needs to take to allow full mining activities to resume at the Talang Santo mine of the Way Linggo gold project.
The steps include preparing an updated Way Linggo project feasibility study including Talang Santo, prepare an updated environmental impact assessment study covering the Way Linggo Prject including Talang Santo, obtaining a secondary forestry permit, and a couple of other requirements.
PTNM expects to fulfill all the requirements by mid January, Kingsrose said, so that the company could resume full mining activities at Talang Santo in the following month.
Elsewhere, the company said that as a result of the delays to the resumption of mining at Talang Santo, Kingsrose believes that total production at the Way Linggo Project (Way Linggo mine plus Talang Santo mine) this financial year will be 16,000 ? 20,000 ounces of gold. This forecast is based on the likely timeframes associated with the above.
Production is expected to return to an annualized rate of more than 40,000 ounces of gold by the end of this financial year, the company added.
Operation at the Talang Santo mine, the second mine being developed at the Way Linggo project, has been stopped since September following a fatality incident.
Editing by Reiner Simanjuntak