Release: Antam?s monthly exploration report - January 2005
Wednesday, February 9 2005 - 03:34 AM WIB
FOR THE MONTH OF JANUARY 2005
Jakarta, February 8, 2005 ? PT Antam Tbk is pleased to lodge the January monthly exploration report in accordance with the Jakarta Stock Exchange listing rules.
Exploration activities were postponed during January 2005, pending a review of the fully year 2004 exploration results. Unit Geomin, Antam?s exploration unit, is currently completing the annual estimation of reserves and resources, conducted by a Competent Person, according to the JORC Code of the Australasian Institute of Mining and Metallurgy.
Antam expects exploration activities will start again in mid-February 2005, focusing on Antam?s main commodities of nickel, gold and bauxite. Antam intends to conduct nickel exploration at Halmahera and Obi Island, North Maluku, as well as Bahubulu, Tapunopaka and Mandiodo in Southeast Sulawesi. Gold exploration will be conducted at Pongkor, West Java, Mranggu, East Java and Pasaman, West Sumatra. Meanwhile, bauxite exploration activities will be performed at Wacopek, Riau, and Tayan, West Kalimantan.
For 2005, Antam has allocated Rp55.4 billion for exploration activities. (end of release)