Paramount concludes JV agreement with Dana Mitra
Wednesday, June 9 2010 - 08:37 AM WIB
Australian metal exploration firm Paramount Mining Corporation Limited announced on Wednesday that its Indonesian subsidiary, PT Paramindo has concluded a joint venture agreement (JV) with Indonesian firm PT Dana Mitra Utama.
The agreement governs the operations of PT Paramount Cipta Persada (PT PCP), which is a 90/10 JV between Paramindo and Dana respectively, engaged in metals-related exploration and development projects in Indonesia, the company said.
The company did not give detail.
In October last year, PT Paramindo, acquired a 90% interest in the 1,000 hectare Gunung Julang gold-silver license (KP) from PT Sumber Alam Cipta Nusantara (SACN).
The Gunung Julang KP is located approximately 20 kms west of PT Aneka Tambang?s Pongkor epithermal gold silver deposit and 100 kms southwest of Jakarta, in Banten province.(denny)