One Asia Resources to spend $150m for Pani gold mine
Friday, October 10 2014 - 02:10 AM WIB
Australia?s One Asia Resources has allocated US$150 million to develop the Pani gold concession in Pohuwato Regency, Gorontalo Province.
One Asia Resources CEO Adrian Rollke told the media on Thursday that the company would team up with local Dharma Tani Marisa village cooperatives, which holds the IUP mining permit for the concession, in developing the mine.
?From the exploration results which have been conducted since 2010, the Gunung Pani mine is quite attractive and feasible to be developed into the exploitation stage,? Rollke said.
He expected the necessary permits to be issued soon to allow the company to start construction process.
He added that Australia?s Mcquarrie Bank Ltd has committed to provide $150 million funding. (*)