Robust Resources to commence gold production by 2014
Tuesday, October 16 2012 - 03:25 AM WIB
Australia-listed miner company Robust Resources Limited targets to commence its maiden production from Romang Island gold project in the end of 2014.
John Levings, Technical Director Robust Resources told Petromindo.com that currently the company is still undergoing the exploration project.
"Within the next 12 months we are expecting to have a feasibility study followed by construction stage in 2013 and at the end of 2014 hopefully we will start to produce the gold, but everything is depending on mining license," Levings said on the sideline of Mines and Money Australia 2012 at Sydney Convention and Exhibition Centre on Tuesday.
Levings revealed that the company expected to produce about 100,000 troy ounces of gold annually from Romang Island Project with the mine life estimated at about 10 years. The Romang Island gold project is having reserves of 1.1 million ounces of gold equivalent ( Au Equivalent). Levings added that the company has already spent about US$ 10 million for the project.
Robust is actively exploring for both precious and base metals on Romang Island, Indonesia, in the richly endowed Sunda-Banda magmatic arc which hosts several world class gold and base metal deposits, including Newmont's massive Batu Hijau orebody. Robust's 77.5% owned Romang Island project is located in eastern Indonesia, approximately 660 km north-west of Darwin.
Editing by Adianto P. Simamora