Minetch to invest in RI gold mine

By Romel S. Gurky

Malaysia?s mining firm Minetech Resources Berhad said it plans to invest in gold and diamond mining project in Indonesia as part of an expansion program.

?Minetech Resources Berhad (MRB) wishes to announce that MRB had on November 19, 2014 entered into a Memorandum of Understanding (MOU) with PT Gold Port Mineral (Goldport) to explore the possibility of collaborating with each other to commence mining works at the offshore diamond and gold mining concession located in Indonesian territory with an aggregate land coverage area of 136,700 hectares,? it said in a statement, but did not provide the location of the mine.

Goldport is principally engaged in the business of mining and concession holder and currently has mining concessions in three different locations in Indonesian territories, Minetech said.

Under the MoU, Minetech would provide funding and technology to help develop Goldport?s gold and diamond concession.

Editing by Reiner Simanjuntak