PT BSM halts gold exploration activities
Thursday, November 30 2000 - 04:00 AM WIB
Gold mining company PT BSM has halted all exploration activities in its gold concession area in the districts of Rupit and Rawasulu in South Sumatra after its recent drilling operation works failed to show promising results, Sriwijaya Pos reported on Thursday.
PT BSM, which took over its 127,000-hectare gold concession from PT Barisan Tropical Mining (BTM), had carried out at least 20 drilling works but none of them showed gold deposits, the head of the mining office in Musirawas regency in South Sumatera, Fauzi Zakaria said.
Fauzi said that the company had yet to decide whether it would continue with the drilling activities or not but he added that the company was now seeking new partners from South Africa and Australia to help finance the future mining operation.
Several months ago, the company said it planned to establish a joint venture with foreign mining company such as from Australia. But it seemed that its foreign partners were not so interested in its concession area, Fauzi said. (*)