Newmont to continue exploration at Elang deposit
Saturday, June 2 2007 - 02:23 AM WIB
Copper and gold mining company PT Newmont Nusa Tenggara (NNT) will restart exploration activities in Elang Dodo and Rinti deposit areas on Sumbawa island, West Nusa Tenggara soon after the Forestry Ministry issues a permit.
“We hope that we can start exploration activities in this coming August soon after the Forestry Ministry issues a permit,” NNT’s public relations manager Kasan Mulyono was quoted as saying by Kontan daily in Jakarta.
Currently, the company operates a copper and gold mine in Batu Hijau area of Sumbawa island, which produced 239.9 million equity pounds of copper and sold 230,200 ounces of equity gold in 2006.
In March 2006, explorations at Elang deposit area, 60 kilometers west of Batu Hijau was halted after attack by arsonists. Elang has lower-grade copper ore than Batu Hijau.
On Newmont’s divestment plan, Kasan said that the divestment process would continue but a decision on who would purchase Newmont’s shares has yet to be made. (*)