Leighton recommences Toka Tindung mining construction contract
Tuesday, March 2 2010 - 01:30 AM WIB
?This agreement allows PT Leighton Contractors Indonesia, a division of Leighton Asia, to recommence works on the A$125 million contract for the provision of mining services for PT Meares Soputan Mining / PT Tambang Tondano Nusajaya,? the company said in statement on Tuesday.
Mobilization will commence immediately with initial civil works to start on site in May 2010 and mining operations to start in July 2010. When in operation, the rate of production is expected to reach 2 million tons of ore and 6 million bcm of waste per year, it said.
Under this six-year contract, Leighton will provide a range of services to the mine, including land clearing, civil works, drilling, excavating, loading, hauling and dumping of waste, selective mining and hauling of ore.
The Toka Tindung gold project has a resource of 1.75 million ounces of gold equivalent, of which at least 1.1 million ounces will initially be mineable by open pit. When in operation, the project will produce at an average annualised production rate of 160,000 ounces of gold equivalent per annum for at least 6 years together with an additional 2 years processing lower grade stockpiles.
UK mining firm Archipelago Resources Plc has 85 percent shares in Toka Tindung Gold Project. (kanti)