Leo unit signs cooperation agreement with gold mining firm
Saturday, November 28 2015 - 05:37 AM WIB
By Romel S. Gurky
IDX-listed PT Leo Investments Tbk said Friday its subsidiary Lion Nickel had on November 18 signed a cooperation agreement with PT Tansri Madjid Energi, which operates a gold mine in Lebong, Bengkulu, for the processing and sale of output from the mine.
The company said in a statement that the mine is expected to start gold production at a rate of 2 kg per month in January of next year.
The Lebong mine has JORC reserves of 324,000 tons, concentrate of 1.93 gram per ton, and recovery ratio of 65 percent.
Editing by Reiner Simanjuntak