S.Africa?s Gencor still in trouble over Maluku mine closure obligations
Thursday, February 12 2004 - 01:41 AM WIB
South African investment concern Gencor Limited said it was still unable to resolve matters related to its obligations to the closure of the Prima Lirang gold mine in Maluku that expired in 2002, news website AllAfrica.Com reported Wednesday.
But the company said: "Negotiations are in progress with the authorities on the issue of the appropriate closure certificate. The directors believe that amounts provided are sufficient to meet Gencor's commitments."
The company said it had set aside some fund to fund the mine closure program but believed that the amount provided was sufficient to meet the company?s commitments.
Gencor has 90 percent sate in PT. Prima Lirang Mining, the company than operated the mine. The Prima Lirang mine ceased operations in 1997.(alex)