Newmont's exploration permit at Martabe mine extended

The Ministry of Energy and Mineral Resources has given gold mining company, PT Newmont Horas Nauli another one year to carry out exploration activities at the company's gold mine in Martabe district of the North Tapanuli regency, North Sumatra, Bisnis Indonesia reported on Thursday.

Suria Atmadja, the community relations manager, said that PT NHN had been allowed to continue its exploration activities at the Martabe district for one more year until May 2006.

"With the extension of the exploration, Newmont will have more time to find minerals in the mine site," he said. The extension of the permit is the third. The first and second extension permits were given in 2004 and in 2005.

Newmont, which took over the mine site PT Danau Toba Mining in 2001, was initially given three years to carry out exploration activities, but the company could not complete the exploration within the given period.

The Martabe mine is estimated to hold 92 tons of gold and 1,033 tons of silver deposits. (*)