Newcrest recommences development activities at Toguraci
Monday, December 8 2003 - 01:57 AM WIB
Australian miner Newcrest Mining Limited said Monday it had recommenced pre-strip development at Toguraci mine in Halmahera Island, North Maluku, following a five-week suspension of operations due to unauthorised mining by a group of illegal miners.
?Following strong support from the Indonesian government, local government and the local community the unauthorised miners departed the site without major incident following negotiations with local police,? Newcrest said.
Newcrest expects to commence gold production in early February 2004. The company has planned to commence commercial production in Toguraci, by using former Gosowong processing facilities. Gosowong mine operations had been stopped due to reserves exhaustion.
Newcrest holds 82.5 percent equity in PT Nusa Halmahera Minerals, which runs the gold mine, while state miner PT Aneka Tambang Tbk, holds the remaining 17.5 percent. (robert)